News clipping from Manila Bulletin, 20 Feb 2008:

The Development Bank of the Philippines is marketing its hedging program to Overseas Filipino Workers (OFWs) starting this weekend, kicking off its roadshow presentation in Hong Kong.

In a talk with reporters before leaving for Hong Kong, DBP President Reynaldo G. David explained the mechanism for OFW hedging facility is based “on wholistic approach” covering a gamut of financial services aside from the usual handling of remittances.

The mechanism calls for a virtual force savings for OFWs, wherein a portion of their remittance could be set aside on a monthly basis, which can be used as collateral should they or their beneficiaries would “want to start their own source of livelihood” moving forward.

I agree with the objectives of DBP. They are providing a facility that helps OFWs save — one of the first steps in financial freedom.

eOFW is not related in any way to the companies featured in our articles except otherwise specified. We feature different companies for the information of our readers to help them better find services that suit their needs.

No related posts.