The CARD Mutual Benefit Association (CARD MBA) was recognized during the 71st Insurance Commission (IC) Anniversary Celebration for placing sixth in the 2019 ASEAN Corporate Governance Scorecard (ACGS) in the Philippines.
“We, at CARD MBA, will continue to create better products and services that provide safety nets to our members and also to build resilient communities,” Dawat added. She also shared that the Association will be more competent, transparent, and consistent in its good governance to uplift the lives of every Filipinos.
About the Scorecard
ACGS, a scorecard developed by Asian Development Bank (ADB) in partnership with the ASEAN Capital Markets Forum (ACMF), pushes the 600 ASEAN publicly listed companies (PLCs) to raise corporate governance standards and practices. The scorecard is a useful tool to demonstrate ASEAN members’ commitment to comprehensive corporate governance which will be important to increase foreign direct investment into the region.
This aims to protect their firms by following the scorecard that is aligned with the corporate governance principles by the Organization for Economic Cooperation and Development (OECD) from financial crisis and promote greater capital market development in the participating countries, namely: Indonesia, Singapore, Thailand, Vietnam, Malaysia, and Philippines.
CARD Mutual Benefit Association
In 1999, CARD MBA was established as the microinsurance arm of CARD MRI which aims to contribute to the overall goal of the organization in eradicating poverty by building resilient communities. It continues to offer life insurance, retirement fund, loan redemption fund, and Golden Life Insurance Program. To date, CARD MBA insures 20,255,616 individuals or 19 % of the total population in the country.