Microfinance NGO Regulatory Council

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  Permanent Members

Pursuant to Section 9 of RA 10693, “The SEC shall establish an accrediting body to be known as the Microfinance NGO Regulatory Council, herein referred to as the “Council”. The Council shall be composed of four (4) permanent members and three (3) members from the Microfinance sector.

The permanent members of the Council shall be composed of the following:


(a) The Chairman of the Securities and Exchange Commission (SEC) or designated representative as the Chairperson of the Council;
(b) The Secretary of the Department of Trade and Industry (DTI) or designated representative;
(c) The Secretary of the Department of Finance (DOF) or designated representative; and
(d) The Secretary of the Department of Social Welfare and Development (DSWD) or designated representative.”

The Permanent Members of the Council are as follows:

Atty. Emilio B. Aquino

Securities and Exchange Commission
Atty. Rachel Esther J. Gumtang-Remalante
Corporate Governance and Finance Department
Rowena S. Sta Clara
Domestic Finance Group (DFG)
Johanna P. Hortinela
Domestic Finance Group (DFG)
SVP Lourdes Rosario M. Baula
Small Business Corporation
Ronald A. Inciong
Small Business Corporation

Janet P. Armas
Director IV
National Program Manager of KALAHI CIDSS and Concurrent National Program of Sustainable Livelihood Program and Pantawid NPMO

Cynthia V. Ilano
Social Welfare Officer V
Officer-in-Charge, Standards Bureau


Luis Daniel S. De La Cruz
Project Development Officer IV

Anna Maria Alexa G. Ledesma
Social Welfare Officer IV

Natalia C. Cause
Project Development Officer IV
  Private Sector Representatives
    Based on Section 9 item (d) of RA 10693, “The three (3) representatives from Microfinance NGO sector shall be chosen by at least majority of the permanent members of the Council from among the nominees of organizations, associations and alliances of Microfinance NGOs duly registered with the SEC. They shall serve for a term of three (3) years.”
The Private Sector representatives are as follows:
Fr. Jose Victor Lobrigo
President and Chief Executive Officer
SEDP-Simbag sa Pag-asenso, Inc. (A Microfinance NGO) doing business under the name and style of SEDP-Simbag Microfinance
Atty. Ibarra A. Malonzo
Kasanyangan Center for Community Development and Microfinance Foundation, Inc.
Eduardo C. Jimenez
Kabalikat para sa Maunlad na Buhay, Inc. (A Microfinance NGO)

Based on Section 9 item (d) of RA 10693, “The Council shall be assisted by a secretariat to be lodged in the SEC, which shall coordinate the activities involved in the accreditation process.”

The SEC Corporate Governance and Finance Department-Monitoring Division acts as the Secretariat of the Council.