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May 11, 2021 | 8:27 pm
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THE Microfinance NGO Regulatory Council (MNRC) said it has eased the requirements for non-government organizations (NGOs) engaged in such lending in order to avert any failure to comply with the law governing the industry. Â
Memorandum Circular No. 1 Series of 2021 detailed prudential relief measures such as the relaxation of the P1 million minimum fund balance requirement, the minimum 50% rating in financial performance indicators, and the minimum 60% weighted average rating for all performance indicators.
âThe MNRC recognized the request of the microfinance industry for prudential relief measures aimed at encouraging accredited (microfinance) NGOs to concentrate their operations and resources in the continuous delivery of microfinance services during this extraordinary situation,â the MNRC said in the memorandum circular, published Monday.Â
Natural diamond organisation warned over advertising Posted April 30, 2021 | By Arabella Roden ⢠Editor The National Advertising Division (NAD) – the US advertising industry’s self-regulation body – has issued a warning to the Natural Diamond Council (NDC) following a complaint from lab-created diamond company Diamond Foundry.
The warning pertained to advertising that compared natural mined diamonds with man-made diamonds – also known as lab-grown, lab-created, or synthetic diamonds – appearing on the NDC’s website and in marketing assets made available to retailers.
Diamond Foundry disputed the NDC’s claim that natural diamond production generates three times less carbon emissions than lab-created diamonds – a figure the NDC derived from a report commissioned by its predecessor organisation, the Diamond Producers Association, in 2019