Cooperative Development Authority Summit on RA 9510

A CDA-initiated Summit on Republic Act 9510 was held at the penthouse of the Cebu CFI Community Cooperative in Cebu City located at the Capitol Compound, Capitol Drive last July 6, 2016.

The national summit was jointly sponsored by the Cebu CFI Community Cooperative and CLIMBS Life and General Insurance Cooperative. The event was intended for the top 100 coops in the country and was conducted to fine-tune the CDA roadmap in harmony with the mandate of the Duterte Administration.

Republic Act 9510 otherwise known as the Credit Information System Act (CISA) was the main topic of the said activity. The activity was held in relation to the mandate of the law for all coops to provide credit information of all coop members of the medium and large coops all over the Philippines.

Atty. Pablo P. Garcia shared his commentaries on CISA.

Atty. Aileen Bautista was in attendance representing Jaime P. Garchitorena of the Credit Information Corporation (CiC) which was created in 2008 by virtue of the RA 9510: a Government-owned and Controlled Corporation (GOCs) that is envisioned to be the leading provider of independent, reliable and accurate credit information in the Philippines. It is under the Securities and Exchange Commission and is supervised by the (GOCs). They coordinate their activities with the Banko Sentral ng Pilipinas (BSP), the Department of Finance, Trade and Industry, Insurance Commission (IC) and the CDA; as these agencies regulate the sources of credit data.

Futhermore, a plenary on the RA 9510 with question and answer was ably moderated and facilitated by the Executive Vice President (EVP) and Chief Financial Officer (CFO): Admarie D. Marcelo, CPA.

THE CLIMBS Journal
Volume 1 Number 33
July – September 2016 Issue

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