Today is July 23, 2019

Functions and Responsibilities

a.
Institutes and operationalizes a system of accreditation for MF-NGOs: that shall include sound and measurable standards of financial performance, social performance and governance;
b.
Issues certificate of accreditation as an MF-NGO upon determination that the criteria set for this purpose have been fully satisfied;
c.
Monitors performance of the Microfinance NGOs to ensure continuing compliance with the provisions of the Act and its implementing rules and regulations;
d.
Places under probation, suspend or revoke any certificate of accreditation upon due determination that a MF-NGO no longer meets the criteria for accreditation;
e.
Requires regular submission of reports by MF-NGOs;
f.
Collects reasonable accreditation and monitoring fees from a MF-NGO which shall be used for the accrediting entity’s operational requirements;
g.
Submits an annual report to the President of the Philippines and the concerned committees of both the Houses of congress; and
h.
Performs such other functions as may be necessary to accomplish the purposes and objectives of the Act.