Legal Procedures for Microfinance
The tremendous growth and the maturity of the Philippine microfinance industry experience is manifested in the establishment of legal procedures to protect the sustainability of microfinance institutions amidst issues of delinquency. In 2008, small claims court was established. The act governs the payment of money lent that does not exceed a principal amount of PhP100,000. The course would allow MFIs to integrate small claims court procedure in its operation. Furthermore, the course will introduce to the middle managers the rule of procedures for small claims courts and present actual case on small claims processing. The middle managers will also be trained on the cost-benefit analysis for this legal option.