Articles worth reading

PH climbs 10 spots in internet speed ranking

account_balanceMetro Manila access_time4 days ago

The Philippines climbed 10 spots to 86th in the global mobile internet speed rankings in January this year, the Department of Information and Communications Technology (DICT) said in a report by GMA News.. Citing a report from internet access perfor...

33 Pasay barangays under lockdown

account_balancePasay access_time4 days ago

A total of 33 barangays and one business establishment were placed under a 14-day lockdown in Pasay City as part of its “control and containment” strategy to curb the spread of the coronavirus disease (COVID-19). The lockdown was made ef...

Photo courtesy of: DOST PAGASA

Tropical depression 'Auring' weakens

account_balanceMetro Manila access_time4 days ago

Tropical Storm Auring has slightly weakened as it moves very slowly over the Philippine sea towards the eastern coast of the Caraga region from its last estimated position 460 km. east-southeast of Hinatuan, Surigao del Sur, according to a report by ...

Quezon City News

Quezon City Mayor Joy Belmonte / Quezon City PIO

Quezon City exempts lenders from ECQ

account_balanceQuezon City News account_circleJames Lopes chat_bubble_outline0 Comments

Quezon City Mayor Joy Belmonte said establishments providing loans and credits to the poor are exempted from the enhanced community quarantine (ECQ) protocol.

Without compromising social distancing, Belmonte explained that these establishments that provide arrangements for “microfinancing, loans or credit’’ to local residents will be allowed to operate in the city amid the ECQ due to the coronavirus disease 2019 (COVID-19).

In Executive Order 29, Belmonte stressed that the city government is duty-bound to ensure the availability of sources of loans and credit to the poor and marginalized, during the ECQ.


“Entities that are duly regulated by governmental authorities to offer loans and credit will be allowed to operate so they can provide assistance to our citizens in need,” said Belmonte.

“We believe that this addresses a gap in the rules, which is sorely needed by our less fortunate residents, and we hope the national government feels the same way. The EO is pro-poor and gives the poor access to loans that they can’t avail from common banks,” she added.

Covered by the order are financial institutions supervised by the Bangko Sentral ng Pilipinas (BSP) such as banks, non-stock savings and loans associations, money exchange/remittance companies, e-money issuers, payment system operators, and pawnshops.

Financial service cooperatives, credit cooperatives, and multi-purpose cooperatives that provide savings and credit to their members as regulated by the Cooperative Development Authority (CDA) will also be allowed to operate.

Other establishments duly regulated by governmental authority providing micro-financing, loans, and other forms of credit to unemployed or low-income individuals are also exempted from the ECQ.

Belmonte said she included cooperatives and microfinance institutions (MFIs) that provide cash-strapped residents with loans which required minimum requirements.

However, Belmonte has required these establishments “to only deploy a skeletal workforce, who will be allowed to travel to and from their place of operation.’’

“The personnel are enjoined to follow the strict rules on social distancing, mass gathering, the wearing of face masks, and to observe proper hygiene,” Belmonte said.

“Employees of said establishments are also advised to carry their valid identification card duly issued by their companies for validation purposes by law enforcers,’’ she concluded.

date_rangeDate Published
9 months ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Valenzuela forms task force against insurgency 

account_balanceValenzuela chrome_reader_mode6 days ago

To solidify their support to the government’s whole-of-nation efforts to put an end to communist insurgency in the country, all 33 barangays of Valenzuela City pledged their commitment to help end local armed conflict (ELCAC) through the creati...

Muntinlupa offers P100,000 reward for info on killing of traffic enforcer 

account_balanceMuntinlupa chrome_reader_mode1 week ago

Reward money to anyone who could provide information about the suspect in the killing of a traffic enforcer in Muntinlupa is now at P200,000 following the pledge of Congressman Ruffy Biazon. BIAZON: The coldblooded, traitorous killing of a Muntinlu...

Photo Courtesy of Valenzuela PIO

Valenzuela celebrates 23rd Charter Day

account_balanceValenzuela chrome_reader_mode6 days ago

To honor its 23rd Charter Day on February 14, the city government of Valenzuela held simple yet meaningful post-Charter Day celebration by inaugurating a new Livelihood and Senior Citizen’s Office in Disiplina Village Bignay (DVB) on Feb. 15. ...

The struggles in 2020 of the casino industry in the Philippines

account_balanceMetro Manila chrome_reader_mode5 months ago

Do you want to learn more about the challenges and predictions for the gambling industry in the Philippines? Find all answers in this article!

Let's Stay Connected Like us on our Facebook page.
Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature