AMBERCASH PH MICROLENDING CORP.

1. Is this institution operated by a Muslim?

 Yes
2. How do you operate and what are your requirements for your clients to comply?
 Picture with consent by the partner (wife or husband). We have due process like C.I
(credit investigation) and B.I (background investigation) done by our staff.
3. What’s your process or policy when it comes to collection?
 We have a group system in place. Unlike other lending institutions, which send their
staffs to go from door to door, our company is community-based, with group leaders
and treasurers overseeing each community, and then we send one staff member to
collect payments. We have these so-called centers where all clients who require a loan
will just go to this place.
4. When was this published?
 August 13, 2021
5. Do you consider your religion in the operation since this is a muslim-owned lending institution?
 Yes, because one of our institution's goals is to help people. We will, for example, offer
certain scholarships and other benefits in the future. Unlike other businesses, ours isn't
solely concerned with making a profit. For our clients, we have designed a program such
as hospitalization, thus, our operation isn’t only based on earning a profit.
6. Have you heard of Islamic Accounting? If yes, do you put it into practice or do you adopt some
of its characteristics?
 Yes, it's similar to Islamic finance, in which interest is prohibited. Instead of paying
interest, the client would be charged for services rendered by the institution to cover
the costs. We do not apply this to our institution because we are still new and must
cover the expenses that are soon to be incurred. Perhaps in the future, but not entirely
because we have overhead costs to sustain.
7. What about those who failed to pay? What do you do in that situation?
 There are fees that we disclose to clients which are one of our sources for implementing
the program of our institution. However not all of these payments being collected.
 We have bad debts around 250,000.
 For those clients who failed to pay the amount due to them, we automatically banned
them, especially those who don’t pay properly. But there are instances where we talk to
them to give them a chance to recover.
8. Do you appoint a customer as its agent in acquiring the asset?
 We have our own staff and we don’t need to appoint someone to do these transactions.
9. Do you operate on the basis of profit and loss sharing? Will you, for example, share in the losses
if your customer suffers these?
 Profit is one of the objectives. We can't really apply the profit and loss sharing because
our company is not yet fully established and we have employees and a board of
directors who benefit from the operation while simultaneously benefiting the
company's operations. Although the business is still in its early stages, the costs are
currently break-even.
AMBERCASH PH MICROLENDING CORP.

INTERVIEWEE:

1. Currently, is your institution operated by a muslim

 Yes
2. How do you operate and what are your requirements for your clients to comply
 Picture with consent by the partner (wife or husband)
 Due process like C.I (credit investigation) and B.I (background investigation) done by
their staff
3. How’s your process or policy when it comes to the collection
 They use group system – unlike other lending institution na yung mga staff nila ay
nagbabahay-bahay sila, ditto it is community based wherein there are group leaders and
treasurer who oversees in that community and then they will send one staff to that
certain community in order to collect the payments. They have center wherein all clients
who wants to loan ay ditto na pumupunta.
4. When was this published
 August 13, 2021
5. In your operation do you consider your religion in running your company
 Yes, because one of the goals of their institution is to help the people such as in the
future they will offer some scholarship and other beneits. Unlike other normal other
institution, their business doesn’t only focus on earning a profit. They have created a
program like _______ lending, hospitalization for their clients. Their operation doesn’t
only based on the profit that they would earn because they this program wherein their
clients would greatly benefit.
6. Do you already hear about the Islamic Accounting
 (not clear if yes or no) It’s like Islamic Finance wherein interest is prohibited. In this case,
instead of interest the client would be charged for services done by the institution to
cover the expenses incurred. For our institution, we do not apply this since we are still
new in the market because we have to sustain the expenses that we are about to incur.
Maybe in the future but not totally because we have overhead costs to sustain.
7. What do you do for those clients who fail to pay for loans
 Merong mga fees na dinidisclose sa clients (NOT SO CLEAR ANG WORDS)
 Meron silang bad debts around 250,000
 They talk to them
 Ang mahirap is yung mga runaway clients (yung tumatakas)
8. Hindi masyadong clear
 They have their own staff and they don’t need to appoint someone to do….
9. Do you operate based on the profit or loss sharing
 One of the goals is to earn profit
 For the sharing, they cannot exactly apply because they have staffs and board who
benefit from the operation at the same time they are also beneficial to the operations of
the company. As of now, the company is not yet fully established, however financially
break-even naman yung cost
634 MULTIPURPOSE COOPERATIVE

INTERVIEWEE: EVANGILYN

1. What year your company have started


2. Currently, is your institution operated by a muslim
 No, but the first person who managed this was a muslim
3. How do you operate and what are your requirements for your clients to comply
4. How’s your process or policy when it comes to the collection
5. In your operation do you consider your religion in running your company
6. Do you already hear about the Islamic Accounting
7. What do you do for those clients who fail to pay for loans
8. Hindi masyadong clear
9. Do you operate based on the profit or loss sharing
Card – San Jose Gusu

1. When did your institution start to operate?

2. Is this institution operated by a Muslim?
 No
3. What about those who failed to pay? What do you do in that situation?
 We talk to them in a pleasant way
 We don’t simply give big loans to our clients. The loans that we offer depend on their
ability to pay back.
4. Do you charge penalties or interest in your clients?
 We don't impose any interest or penalties. Regardless of the period, the loan that they
borrow from us will be the same amount that they must pay us.