In a pioneering undertaking, the University of Makati (UMak) in cooperation with PinoyMe Foundation (PME) and the Hanns Seidel Foundation/Germany (HSF) set in motion on January 13, 2012 the BS in Microfinance Equivalency Program.  The University Secretary, Dr. Elyxzur Ramos and the Dean of the College of Business Administration, Dr. Emerico Cruz together with HSF representatives graced the orientation of students during the opening of classes.

The Equivalency Program was introduced in line with the objectives of the Microfinance Capacity Building Program, a joint program of the PinoyME, Ninoy and Cory Aquino Foundation (NCAF) and HSF in cooperation with Microfinance Institutions (MFIs), to provide an opportunity for undergraduate MFI officers and staff in pursuing further studies while working and earn at least a bachelor’s degree.  The Equivalency Program has adopted the dual education system, i.e., competency-based curriculum (job-focused) through the   partnership of the academe and industry, in order to ensure high quality graduates with the necessary knowledge, skills and values required by industry. It has five modules that will run for about 5 1/2 months at 1.5 school-days per week.  The faculty will come from both UMak and the microfinance sector.

The pilot class is made up of 21 officers coming from four (4) NCR-based microfinance institutions (MFIs), namely, Center for Community Transformation/CCT (7), Alay Buhay Community Development Foundation (6), Kasagana-ka Development Center (5) and Urban Program for Livelihood Finance and Training/UPLIFT (3). These officers, who are currently holding the position of supervisor or manager and rose from the ranks, were nominated by their respective organizations to pursue the Equivalency Program for their personal growth and career advancement and were given a scholarship grant.

In support of the program, the Metrobank Foundation has offered scholarship grants to a number of students in the pilot class.  This is a welcome partnership to help more MFI employees achieve their goal of getting a college degree and reach greater heights in their chosen profession in the microfinance industry. An Academic Council was also formed to provide guidance in terms of policy and program implementation.