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French police have arrested the founder of Telegram. What happens next could change the course of big tech

TECHCRUNCH-FLICKR

When Pavel Durov arrived in France on his private jet last Saturday, he was greeted by police who promptly arrested him. As the founder of the direct messaging platform Telegram, he was accused of facilitating the widespread crimes committed on it.

The following day, a French judge extended Durov’s initial period of detention, allowing police to detain him for up to 96 hours.

Telegram has rejected the allegations against Durov. In a statement, the company said: “It is absurd to claim that a platform or its owner are responsible for abuse of that platform.”

The case may have far-reaching international implications, not just for Telegram but for other global technology giants as well.

WHO IS PAVEL DUROV?
Born in Russia in 1984, Pavel Durov also has French citizenship. This might explain why he felt free to travel despite his app’s role in the Russia-Ukraine War and its widespread use by extremist groups and criminals more generally.

Durov started an earlier social media site, VKontakte, in 2006, which remains very popular in Russia. However, a dispute with how the new owners of the site were operating it led to him leaving the company in 2014.

It was shortly before this that Durov created Telegram. This platform provides both the means for communication and exchange as well as the protection of encryption that makes crimes harder to track and tackle than ever before. But that same protection also enables people to resist authoritarian governments that seek to prevent dissent or protest.

Durov also has connections with famed tech figures Elon Musk and Mark Zuckerberg, and enjoys broad support in the vocally libertarian tech community. But his platform is no stranger to legal challenges — even in his birth country.

AN ODD TARGET
Pavel Durov is in some ways an odd target for French authorities.

Meta’s WhatsApp messenger app is also encrypted and boasts three times as many users, while X’s provocations for hate speech and other problematic content are unrepentantly public and increasingly widespread.

There is also no suggestion that Durov himself was engaged with making any illegal content. Instead, he is accused of indirectly facilitating illegal content by maintaining the app in the first place.

However, Durov’s unique background might go some way to suggest why he was taken in.

Unlike other major tech players, he lacks US citizenship. He hails from a country with a checkered past of internet activity — and a diminished diplomatic standing globally thanks to its war against Ukraine.

His app is large enough to be a global presence. But simultaneously it is not large enough to have the limitless legal resources of major players such as Meta.

Combined, these factors make him a more accessible target to test the enforcement of expanding regulatory frameworks.

A QUESTION OF MODERATION
Durov’s arrest marks another act in the often confusing and contradictory negotiation of how much responsibility platforms shoulder for the content on their sites.

These platforms, which include direct messaging platforms such as Telegram and WhatsApp but also broader services such as those offered by Meta’s Facebook and Musk’s X, operate across the globe.

As such, they contend with a wide variety of legal environments.

This means any restriction put on a platform ultimately affects its services everywhere in the world — complicating and frequently preventing regulation.

On one side, there is a push to either hold the platforms responsible for illegal content or to provide details on the users that post it.

In Russia, Telegram itself was under pressure to provide names of protesters organizing through its app to protest the war against Ukraine.

Conversely, freedom of speech advocates have fought against users being banned from platforms. Meanwhile political commentators cry foul of being “censored” for their political views.

These contradictions make regulation difficult to craft, while the platforms’ global nature make enforcement a daunting challenge. This challenge tends to play in platforms’ favor, as they can exercise a relatively strong sense of platform sovereignty in how they decide to operate and develop.

But these complications can obscure the ways platforms can operate directly as deliberate influencers of public opinion and even publishers of their own content.

To take one example, both Google and Facebook took advantage of their central place in the information economy to advertise politically orientated content to resist the development and implementation of Australia’s News Media Bargaining Code.

The platforms’ construction also directly influences what content can appear and what content is recommended — and hate speech can mark an opportunity for clicks and screen time.

Now, pressure is increasing to hold platforms responsible for how they moderate their users and content. In Europe, recent regulation such as the Media Freedom Act aims to prevent platforms from arbitrarily deleting or banning news producers and their content, while the Digital Services Act requires that these platforms provide mechanisms for removing illegal material.

Australia has its own Online Safety Act to prevent harms through platforms, though the recent case involving X reveals that its capacity may be quite limited.

FUTURE IMPLICATIONS
Durov is currently only being detained, and it remains to be seen what, if anything, will happen to him in coming days.

But if he is charged and successfully prosecuted, it could lay the groundwork for France to take wider actions against not only tech platforms, but also their owners. It could also embolden nations around the world — in the West and beyond — to undertake their own investigations.

In turn, it may also make tech platforms think far more seriously about the criminal content they host.

THE CONVERSATION VIA REUTERS CONNECT

 

Timothy Koskie is a postdoctoral researcher at the School of Media and Communications, University of Sydney.

A recruitment policy is imperative

Ithink there’s something wrong with our hiring process as we continue to suffer from the effects of bad hires. They stay with us wreaking havoc in our operations and yet the good ones don’t stay much longer than four to five months. What’s wrong with us? — Moon Light.

If an organization fails to attract, motivate, and maintain the most qualified people, it will surely fail to meet its objectives. In other words, the company’s performance depends on the effectiveness of its recruitment strategies, which start from screening the best candidates for the job.

A sloppy hiring process can result in unimaginable damage to the organization.

It’s easy to understand the cost of recruitment if workers fail to meet performance standards or commit infractions. The cost could be staggering if we consider vacancy announcements, countless hours of interviews, negotiating, onboarding, and training new people.

The cost is compounded when a worker is terminated and decides to file an illegal dismissal case. Therefore, no matter how you attract and screening external job applicants, you’ll be at a loss without a sound standard policy.

FORMAL POLICY
I’m not sure what’s ailing your hiring process as I’m not privy to your operations. I can only speculate and say that every human resource (HR) department must be guided by a formal recruitment policy.

In my interaction with hundreds of people managers from various organizations, around 98% have no standard policy on how to attract, screen, motivate, and retain good hires.

They hire people in all sorts of ways without knowing the proper process. Take note of the following points:

One, determine if a vacancy must be filled. When an employee is dismissed, resigns, retires, dies, or becomes incapacitated, an honest-to-goodness review must be performed by HR to validate the need for a replacement. It should not be automatic. This is to avoid over-staffing and improve productivity.

Each vacancy must be re-assessed to discover whether there are redundant or unnecessary tasks. Some solutions may include the distribution of tasks to other workers and the application of digital tools that eliminate certain manual business operations. Outsourcing to a service provider is also an option.

Two, promote the best candidate from within. If a replacement is needed, HR must search, assess, and recommend internal candidates. It tends to be cheaper in terms of offering starting pay, and faster to fill, with the candidate having inside knowledge of how the business operates.

Other advantages include shorter periods of training and “fitting in.” Also, internal candidates are already attuned to the corporate culture. Moreover, other employees would be motivated to learn that a similar promotion is possible in the future.

Three, hire only outsiders for entry-level posts. This is the ripple effect of promoting people from within. This is beneficial for entry-level workers as they are given enough time to demonstrate their capacity to do the job and be accustomed to their culture.

If there are bad hires, their adverse effect on the organization is minimized and at the same time easily controlled. On the other hand, if they are good hires, they can be fully motivated to the satisfaction of their boss.

Four, create a shortlist of the top three candidates. Do this even when we’re talking about fresh college graduates for entry-level posts. When you compile a shortlist, you must rely on standard parameters applicable to all candidates. Choose the number one candidate. Then, discuss starting pay, merit increases, and other benefits.

The candidate should be given not more than three days (non-extendible) to accept the offer, including all the terms and conditions of employment. If your first choice declines, move on to the next choice. For some reason, many of the second choices in my experience are the best bet for employment.

BACKGROUND CHECKS
One of the most crucial but neglected steps in the hiring process is background checking. While reference checks yield little useful information about a candidate, it’s no excuse to ignore it. Besides, a third-party “truth verifier” has a reputation to protect. They have established professional relations with academic institutions, government bodies (like the courts and the National Bureau of Investigation), and other organizations.

Don’t rely too much on the statements of the applicants’ references, who are either their friends or relatives prone to giving positive feedback.

To protect your organization from employment fraud, it’s essential to require the three shortlisted candidates to fill out the company’s application form for employment, which should contain a statement that they attest to the accuracy and truthfulness of all personal data. It must also contain provisions giving consent to verify their data, subject to data privacy rules.

That would be the organization’s basis for carrying out a background check.

 

Strengthen the capacity of your team leaders, supervisors, and managers. Learn from Rey Elbo’s leadership program called “Superior Subordinate Supervision.” Contact him on Facebook, LinkedIn, X or e-mail elbonomics@gmail.com or via https://reyelbo.com

How the Philippines’ labor productivity compares with its neighbors in the region

Labor productivity — as measured by gross domestic product (GDP) per person employed — of Filipinos inched up by 2% year on year to $23,519 per worker last year, the latest data from the World Bank’s World Development Indicators database showed. It was the fifth-lowest in the East and Southeast Asia. It was also more than two times lower than the East Asia & Pacific’s average of $43,715 and the world average of $47,919 for 2023.

How the Philippines’ labor productivity compares with its neighbors in the region

How PSEi member stocks performed — August 29, 2024

Here’s a quick glance at how PSEi stocks fared on Thursday, August 29, 2024.


PSEi drops to 6,800 level as investors pocket gains

BW FILE PHOTO

PHILIPPINE SHARES dropped to the 6,800 level on Thursday, tracking Wall Street’s decline overnight, as investors continued to book profits before the month’s close.

The Philippine Stock Exchange index (PSEi) fell by 0.95% or 66.46 points to end at 6,891.55 on Thursday, while the broader all shares index dropped by 0.69% or 26.26 points to finish at 3,733.29.

This was the PSEi’s worst close in almost two weeks or since it finished at 6,889.87 on Aug. 19.

“The local bourse extended its decline amid continuous profit-taking after the market failed to break the 7,000 resistance,” Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.

“Negative cues from Wall Street further weighed on the market, affecting Asian peers as well,” she added.

Asian shares followed Wall Street futures lower on Thursday as Nvidia’s results disappointed some bullish investors, Reuters reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3% as tech stocks dragged. The Nikkei eased 0.2% while South Korea dropped 1%.

Nvidia’s third-quarter revenue forecast of $32.5 billion surpassed Wall Street estimates, but the results still failed to impress the most bullish investors, who have driven a dizzying rally in its shares.

Wall Street’s main indexes finished lower on Wednesday. The Dow Jones Industrial Average fell 0.39% to 41,091.42; the S&P 500 lost 0.6% to 5,592.18; and the Nasdaq Composite lost 1.12% to 17,556.03.

“Philippine shares slipped just below the 6,900 level as investors sold ahead of the August closing and the MSCI rebalancing [on Friday],” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Sentiment also was pulled down from across the region, with US stocks dipping Wednesday, led by a decline in Nvidia Corp. as investors awaited its earnings report and the upcoming July personal consumption expenditures price index,” he added.

Majority of sectoral indices closed lower on Thursday. Holding firms retreated by 1.98% or 115.59 points to 5,717.44; financials dropped by 1.37% or 29.43 points to 2,104.28; services went down by 0.51% or 11.35 points to 2,201.47; and industrials declined by 0.1% or 10 points to 9,291.35.

Meanwhile, mining and oil climbed by 0.33% or 27.74 points to 8,263.42 and property increased by 0.13% or 3.72 points to 2,769.98.

“Among the index members, Ayala Land, Inc. led the gainers, up by 2.5%, while Converge ICT Solutions, Inc. was at the bottom, losing 4.29%,” Ms. Alviar said.

Value turnover increased to P6.64 billion on Thursday with 959.59 million issues changing hands from the P5.34 billion with 1.27 billion shares traded on Wednesday.

Decliners outnumbered advancers, 117 versus 79, while 51 names were unchanged.

Net foreign buying climbed to P888.76 million on Thursday from P687.06 million on Wednesday. — R.M.D. Ochave with Reuters

Bangko Sentral terminates National ID printing contract

PHILIPPINE STAR/ MICHAEL VARCAS

THE Bangko Sentral ng Pilipinas (BSP) said it has terminated the printing contract for Philippine Identification System cards, or the National ID.

“This is a real problem… the contractor for these IDs has not been able to deliver, so we have terminated the contracts,” BSP Governor Eli M. Remolona, Jr. told a forum.

“We are negotiating for damages and at the same time we’re looking for a new vendor for this contract. But we’re working on that issue,” he added.

The central bank is responsible for printing the National ID, with the Philippine Statistics Authority (PSA) taking charge of gathering the data that goes into the cards.

The central bank is considered a recognized government printer, providing printing management requirements for various agencies, apart from its primary task of printing banknotes.

The BSP’s card printing supplier is AllCard, Inc.

In a statement on Thursday, the PSA backed the central bank’s decision to engage another supplier.

“The PSA trusts the assessment and decision of the BSP to terminate its contract with their supplier for the National ID card production,” it said.

“We affirm our unwavering commitment to delivering a reliable and secure National ID system, ensuring that every registered person will receive their National ID,” it added.

Legislators have raised concerns over the slow production and delivery of the National IDs.

In June, the PSA said that the backlog is currently 32 million physical cards. It cited the limited capacity of printing facilities.

A total of 51.6 million PhilIDs have been printed and distributed as of the end of May, according to the PSA. Meanwhile, 87.6 million citizens have registered for the National ID, with an eventual target of 100% registration.

The National ID is considered a means of achieving greater financial inclusion, with banks compelled to accept it as proof of identity in lieu of the old practice of requiring multiple proofs of identity.

The ID restrictions are thought to have prevented millions of Filipinos from opening bank accounts and joining the formal economy. — Luisa Maria Jacinta C. Jocson

Foreign chambers urge Senate to work on stalled connectivity measure

UPKLYAK-FREEPIK

THE Joint Foreign Chambers (JFC) called on the Senate to make progress on the Open Access in Data Transmission Act, or Konektadong Pinoy Act, after no action was taken since Senator Alan Peter S. Cayetano’s sponsorship speech on Aug. 5.

“The foreign chambers look forward to the enactment of Konektadong Pinoy, given the support of the executive, with the National Economic and Development Authority (NEDA) as the main champion,” the JFC said in a statement on Thursday.

“This bill is crucial to achieving the President’s call for digitalization. It will simplify the licensing of broadband network operators, which will support ease of entry and ease of doing business and attract foreign investors,” he added.

The House of Representatives passed a version of the measure on third reading in December 2022.

“To date, the two chambers are aligned, with Senate President Francis G. Escudero giving priority to Konektadong Pinoy,” the JFC said.

Currently set for floor debate, Senate Bill No. 2699 aims to attract network operators, which will promote the resilience and security of the internet in the Philippines.

“The Konektadong Pinoy bill seeks to empower internet service providers in bringing accessible, reliable, and affordable internet to communities,” the JFC said.

The bill seeks to simplify the approval process for network operators, promote efficient management of the radio spectrum, and promote the sharing of infrastructure.

It is among the bills prioritized for passage within the 19th Congress by the Legislative-Executive Development Advisory Council.

The Philippine Chamber of Commerce and Industry (PCCI), the Philippine Exporters Confederation, Inc. (Philexport), and the Employers Confederation of the Philippines (ECOP) have also expressed support for the bill after the sponsorship speeches in the Senate.

PCCI President Enunina V. Mangio said that the bill will benefit micro, small and medium enterprises, which make up 99.5% of the businesses in the country.

“Bringing them online is crucial to make them competitive. With the Konektadong Pinoy Act, small entrepreneurs even in rural areas can participate in e-commerce and use e-payments,” she said.

ECOP Chairman Edgardo G. Lacson said such a measure will help businesses increase their productivity by enabling the use of new technology.

“Harnessing the power of artificial intelligence (AI) requires robust connectivity. With Konektadong Pinoy, businesses of all sizes can leverage AI and other digital technologies to increase productivity and develop a globally competitive workforce,” Mr. Lacson said.

“Filipino businesses are ready for the global market. Once passed into law, Konektadong Pinoy will bring a reliable and secure internet that will help exporters access modern technologies and participate in international trade,” Philexport President Sergio R. Ortiz-Luis, Jr. said. — Justine Irish D. Tabile

E-visa, VAT refund scheme seen crucial for PHL ambition to become ‘shopping capital’

PHILIPPINE STAR/KRIZ JOHN ROSALES

E-VISA and value-added tax (VAT) refunds for international visitors will help establish the Philippines as a shopping destination, Secretary Frederick D. Go said.

Mr. Go, who heads the Office Special Assistant to the President for Investment and Economic Affairs, said: “I think we always have that potential to be a shopping capital in Asia. But we need two things — e-visas … (to) make it easier for travelers to come to the Philippines (and) VAT refunds for tourists. Because practically every country in Asia has a VAT refund and we don’t.”

He was speaking to reporters on the sidelines of the National Retail Conference and Expo on Thursday.

“So if we indeed want to become a shopping capital of Asia or of the world, we need to have those two (which are) very fundamental to becoming a shopping capital,” he added.

Aside from attracting tourists, Mr. Go said that the VAT refund scheme may also persuade more luxury brands to come into the Philippines.

Philippine Retailers Association President Roberto S. Claudio said a VAT refund scheme for tourists will not only boost retail sales but also increase tourism revenue.

“This is where we incentivize tourists and note that the second biggest expense of tourists is shopping,” he said.

“Majority of the tourists come to visit the country not just for the attractions or the resorts or diving or food, but they all shop before they go,” he added.

He said that the measure on tax incentives for tourists is now in the Senate. The House approved its version of the bill last year.

Senate Bill No. 2415 aims to provide non-resident tourists with VAT refunds on purchases worth at least P3,000 to encourage more visitor spending.

“I’d like all retailers to start preparing for this, which, once signed by the President, will boost tourist arrivals,” Mr. Claudio said.

“The overall benefit to the economy is going to be enormous, and we retailers will be the first ones to be in the front line,” he added.

Asked about the prospect of catching up with the early implementers of the VAT refund, Mr. Claudio said: “People travel every day, every week, every month; you never miss the boat.”

“They were ahead of us in doing this. But it’s never too late because the people who traveled there last year can travel to the Philippines next year,” he added. — Justine Irish D. Tabile

ADB finalizing $500-M PHL climate financing package

ILIGAN CITY DRRMO

THE Asian Development Bank (ADB) is moving towards the approval of a $500-million loan to support Philippine efforts to mitigate climate-related disasters, the Department of Finance (DoF) said.

At a forum on Wednesday, ADB President Masatsugu Asakawa told Finance Secretary Ralph G. Recto processing the loan, which will be extended under the Climate Change Action Program (CCAP) Subprogram 2, is in its final stages, the DoF said in a statement.  

The loan forms part of the bank’s $10-billion climate finance commitment for the Philippines through 2029, as announced by Mr. Asakawa during the United Nations Climate Change Conference in Dubai last year.

“The financing commitment aims to improve the climate resilience of communities, ecosystems, and the national economy. It focuses on investments in public transport, clean energy, disaster risk management, and social protection,” the DoF said.

CCAP Subprogram 2 aims to address poverty and reduce inequalities, accelerate progress promoting gender equality, build climate and disaster resilience, and enhance environmental sustainability. It also seeks to promote rural development and food security, and strengthen governance and institutional capacity, the ADB said on its website. 

In 2022, the Philippines received $250 million under CCAP 1, the ADB’s first climate change policy-based loan program.

The bank will also continue leveraging regional facilities like the ASEAN Catalytic Green Finance Facility and the Green Climate Fund to enhance the Philippines’ access to grant financing, Mr. Asakawa said.

The ADB also held a first meeting on the ASEAN (Association of Southeast Asian Nations) Climate Finance Policy Platform, which will support Southeast Asian finance ministry leaders in pushing for collective climate action, he said.

The ADB Board is also set to review its new Country Partnership Strategy for the Philippines for 2024 to 2029 next week, according to Mr. Asakawa.

The framework will focus on critical areas like human development, economic competitiveness, quality infrastructure, climate action, and private sector development, the DoF said.

Mr. Asakawa also noted the bank’s support for the Philippines’ hosting of the Loss and Damage Fund Board, “emphasizing that this will further cement the country’s leadership on climate change issues in the region.”

President Ferdinand R. Marcos, Jr. on Wednesday signed Republic Act No. 12019 or the Loss and Damage Fund Board Act. The law grants juridical personality and legal capacity to the board, which oversees the international climate change fund. 

The Philippines suffered around $10 billion in damage from climate hazards between 2010 to 2020, the DoF said. — Beatriz Marie D. Cruz

DICT bats for more data center funding 

STOCK PHOTO | Image by DC Studio from Freepik

DATA CENTERS will require more funding from the budget to better handle the expected surge in data as the government digitizes, the Department of Information and Communications Technology (DICT) said.

Speaking before the House appropriations committee on Thursday, Information and Communications Technology Secretary Ivan John E. Uy said the resources available to the DICT as the government migrates its systems to digital platforms are inadequate.

“Additional funding would be necessary for us to meet this growing demand,” Mr. Uy said, noting that the DICT is tasked with managing the National Government data center cloud services program, for which P325 million was budgeted. With this amount, the DICT must maintain 650 of the 1,277 government cloud systems. The data center budget, meanwhile, was set at P425 million.

“The ideal is P15 billion (for data center development), in fact we just submitted a proposal of P2.3 billion but what was approved (for data center management) is only P750 million,” Undersecretary David L. Almirol, Jr. said.

The DICT’s overall allocation was P10.43 billion in the National Expenditure Program for 2025, which Mr. Uy said will “allow us to expand our operations, enhance our performance and ICT governance, develop new systems and infrastructures.”

These funds will be allocated for, among others, the National Government Portal project (P302.86 million); and the e-Government System Development program servicing 45 National Government agencies (P1.37 billion).

The government has yet to complete its first data center despite growing computing needs and the need to keep sensitive data under Philippine control, Mr. Almirol said.

“Our first data center is still being developed. Right now, we are just co-locating. We do not have one,” Mr. Almirol said, referring to the government’s current reliance on the cloud.

“Data centers are important. Our government data, which is hosted by the DICT, should be ours and owned by the Philippines. Right now, it is outside the country, within cloud services. This is dangerous because we do not have our own data and are just relying on foreign cloud services,” Party-list Rep. Bernadette Herrera-Dy said during the hearing. — Ashley Erika O. Jose

Cebu, Maguindanao, Sulu targeted for KADIWA stores’ VisMin launch

PHILIPPINE STAR/WALTER BOLLOZOS

THE Department of Agriculture (DA) said Cebu province, Maguindanao, and Sulu were the sites chosen to launch the KADIWA store network in the Visayas and Mindanao.

“By September we will be opening KADIWA stores in Visayas and Mindanao. We’re targeting Cebu, Maguindanao and Sulu,” Agriculture Assistant Secretary and Spokesman Arnel V. de Mesa said in a briefing on Thursday.

The DA has said it hopes to open about 60 KADIWA stores in September.

Government-subsidized KADIWA stores offer low-cost produce to the public, while allowing farmers to sell directly to consumers by doing away with the middleman stages of the supply chain.

Mr. De Mesa added that the KADIWA locations will offer rice at P29 per kilogram to vulnerable segments of society, with the general public also free to buy subsidized rice at other prices.

“The P29 rice locations have NFA (National Food Authority) warehouses near their sites,” he said.

Mr. De Mesa said that operating days for the stores will be Thursday to Saturday, in line with other locations.

The DA said it aims to open a network of 1,500 KADIWA outlets nationwide. — Adrian H. Halili

SBCorp to offer small firms loans for typhoon recovery

EARTH.NULLSCHOOL.NET

THE Small Business Corp. (SBCorp) is offering a special loan facility to micro, small and medium enterprises (MSMEs) affected by Typhoon Carina, the Department of Trade and Industry (DTI) said.

“We understand the challenges businesses face as they work to rebuild and resume normal operations after the devastating impact of this typhoon, which surpassed even the rainfall record of Super Typhoon Ondoy,” SBCorp President and Chief Executive Officer Robert C. Bastillo said.

“This emergency fund, offering concessional terms not currently available in the market, aims to finance the immediate needs of MSMEs. These needs include the repair and replacement of damaged fixed assets and inventory, operational disruption, and revenue losses,” he added.

Borrowers will be offered up to P300,000, payable monthly over up to three years with a three-month grace period.

The loan will be interest-free in the first year, and charge 1% interest on the balance in subsequent years.

According to SBCorp, MSMEs in the National Capital Region, Ilocos Norte, La Union, Bataan, Pampanga, Bulacan, Cavite, and Rizal are eligible to apply for the program.

Meanwhile, small businesses in some municipalities in Tarlac, Laguna, Oriental Mindoro, Romblon, Zamboanga, Davao Occidental, and Cotabato may also qualify.

“Existing borrowers who are (actively paying loans) and have yet to fully reach the P300,000 loan cap can quickly access this facility without needing to submit any documentary requirements,” Mr. Bastillo said.

“New borrowers only need to submit their Mayor’s Permit or Barangay Micro Business Enterprise (BMBE) Certificate for loans over P100,000, or Barangay Certification for loans of up to P100,000,” he added.

All new borrowers are also required to provide government-issued ID, proof of bank or e-money account, and corporate documents, if applicable. — Justine Irish D. Tabile