Author Archive
Time, Love, Money & Energy
By Kaajal Laungani, KF12 Philippines
During our discussion, Mike mentioned something that I had thought a lot about prior to applying to the Kiva Fellows Program – the concept of being satisfied and feeling grateful. When he would ask his audiences if they had enough time, money, love or energy, most would flatly respond with a NO. I had observed similar sentiments through my interactions with people back home in California.
When I returned to Bohol, I thought it would be interesting to see how Kiva clients responded to the same questions. Before you read on, think about how you would respond to the following questions: Do you have enough time? love? money? energy?
Island life – is it really as glamorous as it sounds?
By Kaajal Laungani, KF12 Philippines
It was a typical bright and sunny morning as I walked down the Talibon Pier towards the tiny boat that would take me island hopping for the day. I was greeted by six smiling loan officers already seated inside the boat; they watched as I maneuvered myself down steep sloping rocks, balanced on a beam to cross the water, and finally jumped onto the boat that would take me on an incredible forty-five minute ride through the Philippine Sea…
After a few stops and many laughs, we arrived at Nocnocan Island – a tiny island that is only accessible by boat. We pulled up on the shore and walked through a maze of homes and shops, the alleys approximately three and a half feet wide. At the cluster meeting house, where the CEVI borrowers gather on a weekly basis, I was able to learn about island life and how the microfinance loans were making an impact on the Nocnocan community.
Clients’ Perspectives
By Kaajal Laungani, KF12 Philippines
We developed interview guides/modules based on the CERISE SPI tool – creating questions and group exercises related to the following topics: products and services, policies, over-indebtedness, staff relations, feedback and communication, client benefits, community development and child well-being. Over a span of four days, our team was able to collect data and feedback from client groups to gain a better understanding of how CEVI is perceived by those it aims to serve.
O is for Opportunity
By Kaajal Laungani, KF12 Philippines
When I decided to apply for the Kiva Fellowship, I had ‘opportunity’ on my mind. I wanted to be a Fellow so I could become a channel through which disadvantaged people could connect to a network of financial support, thereby presenting them with the chance to improve their lives. Though I came to the province of Bohol envisioning the most effective opportunities to take the form of financial transactions, I have, on several occasions, witnessed other means of empowering underprivileged Filipinos.
Unlocking the Potential: Islamic Finance in the Philippines
By Kaajal Laungani, KF12 Philippines
“We have Muslim brothers who avail (financial) services but the way they avail (these loans) is against our culture, against our beliefs.” ~Muslim leader, Davao, Mindanao
A pioneer in Islamic Finance, CEVI is the only microfinance institution in the Philippines (according to the Microfinance Council of the Philippines) that has developed a microfinance model rooted in Islam that conforms to the religious and cultural beliefs of Muslim clients. To date, the project involves 10 clients with a total portfolio of Php 51,000 ($1,186 USD). If the product proves to be successful, CEVI will extend the services to Muslim communities near branches throughout the Philippines. Hopefully as early as next year we’ll see Islamic loans from CEVI on Kiva!
Kiva’s Asia-Pacific Conference – Social Performance, Poverty Assessment & the Frog Dance
By Joanne Gan (Indonesia), Kaajal Laungani (Philippines) & John Rauschkolb III (Philippines) – KF12
Measuring social performance has become an increasingly important topic in the microfinance sector. With the recent high profile IPO of India’s SKS Microfinance and more commercial banks entering the sector, concerns have resurged as to how organizations can or will balance financial goals with social goals. Headlines on high interest rates and over-indebtedness question how and if microfinance institutions (MFIs) are looking out for the best interest of their clients. As with most Kiva lenders, we believe in microfinance as a poverty alleviation tool. A tool to help the communities it serves by lending money to entrepreneurs to grow their businesses, and improve their incomes. We hope our money is going to MFIs who are looking out for the borrowers, not profiting off their backs. But how can we be sure? How do we know an MFI is achieving its social goals? And as an MFI, how can you monitor your social performance?
To Have a Servant’s Heart: The Essence of Customer Service
By Kaajal Laungani, KF12, Philippines
When you’re in the business of microfinance, you’re in the business of relationship building. Microfinance institutions (MFIs) must rely on a vast network of relationships between stakeholders – clients, lenders, donors, employees, etc – in order to provide financial services to the poor and fulfill their other objectives.
Pastor Boris Joaquin, World Vision’s Director of Publics in Ministry, shared his insight on how to exceed customers’ expectations with Community Economic Ventures, Inc (CEVI) during an intensive workshop. Forty-seven CEVI staff members, including branch managers, area managers, and top management, met at JJ’s Seafood in Tagbilaran City to discuss Customer Service 101.
