Roadshow to heighten cooperative awareness on credit info system

• Source:http://www.pna.gov.ph/index.php?nid=2&rid=893404
• Thursday, June 9, 2016

(PNA), BNB/PGLENA/CBF

ILOILO CITY, June 9 (PNA) -- The Cooperative Development Authority (CDA) here seeks to strengthen the awareness of various cooperatives in Western Visayas on the salient features of Republic Act 9510 or the Credit Information System through a credit infrastructure roadshow slated June 22.

Seventy-five large and medium cooperatives with capital or total asset of Php100 million and above from Western Visayas are expected to join the one day event which aims to educate participants on their roles and obligations in enabling the newly-passed law, according to CDA 6 regional director Atty. Arnel Agrasada.

Jaime Castro Jose P. Garchitorena, president and chief executive officer of the credit information corporation (CIC), in a communication to Agrasada, said that the road show is part of their “nationwide educational campaign to promote the benefits of the Credit Information System to the cooperatives.”

At the end of the activity, participants are expected to appreciate the credit information system as “a key infrastructure in the financial system, create a better understanding of secured transactions and credit information system reforms,” Garchitorena added.

Moreover, it is expected to raise the cooperative’s level of understanding about the benefits of the Credit Information System and roles of CIC and data submitting/accessing entities in enabling the Credit Information System Act (CISA) and familiarize cooperatives with the technical requirements of the CIC Credit Information system through a technical workshop.

The one day event which is supported by the CIC, Philippine Cooperative Center (PCC), the United States Agency for International Development (USAID) and the International Finance Corporation (IFC) will be held at the Aria Function Room of the Amigo Terrace Hotel here.