A lawmaker called for the swift enactment of a measure that would provide overseas Filipino workers (OFWs) discounted rates on remittance fees and safeguard their hard-earned money sent back home from exorbitant charges.
A lawmaker called for the swift enactment of a measure that would provide overseas Filipino workers discounted rates on remittance fees and safeguard their hard-earned money sent back home from exorbitant charges.
“The billions of dollars in remittances sent home by our OFWs, who we consider as modern-day heroes, have always been one of the country’s major economic drivers,” Duterte said. “The money they send home helped the country ride out the economic shock triggered by the Covid-19 pandemic. It is important that we protect their hard-earned earnings.”HB 4469, which was filed by Duterte, Benguet Rep. Eric G. Yap and ACT-CIS Partylist Reps. Jeffrey P. Soriano and Edvic G.
These pioneering financial services are now available in the market and are expected to flourish after the pandemic forced a shift to more digital options in transactions, Duterte said.DUTERTE recalled that the administration under his father pioneered digital banking services for OFWs by opening and operationalizing the OFBank.
“These innovations pioneered by OFBank can be strengthened by passing House Bill 4469 and the eight other bills now pending in Congress with similar provisions,” Duterte said.
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