January 26, 2018

Duterte administration launches the Overseas Filipino Bank

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  • Duterte administration launches the Overseas Filipino Bank
  • In an article published by the Philippine Information Agency, they have stated that President Rodrigo “Digong” Duterte had launched the Overseas Filipino Bank which is considered as the very first bank that will cater to the needs of OFWs abroad.

    IMAGE Philippine Information Agency 

    With the launch of the OFB, it will enable the handling of remittances and support investments made by OFWs as well as help build financial literacy. Aside from that, the presence of the OFB will be used as a tool in reshaping the country’s economic sector, making it more inclusive for the working class and other Filipinos residing abroad.

    Although the OFB was originally a financial institution for OFWs, its coverage was expanded, making it available for other Filipinos based overseas to take part and be allowed to invest in the country.

    Source: Philippine Information Agency
    Image Source: Philippine Information Agency; Video from: ABS-CBN News on YouTube

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