Banks Expanding Special Product Offerings for OFWs
AT LEAST eight big commercial banks have so far heeded the Bangko Sentral ng Pilipinas’ call for the banking industry to develop and make available special loan, deposit and investment products for overseas Filipino workers.
BSP Governor Amando Tetangco Jr. said the banks now offering a wide array of financial products to OFWs were: Metropolitan Bank and Trust Co., Bank of the Philippine Islands, Equitable PCI Bank, Philippine National Bank, Rizal Commercial Banking Corp., Development Bank of the Philippines, Banco de Oro Universal Bank and Asia United Bank.
Tetangco said the BSP wanted local banks to focus not only on the remittance side of the business but also on other products and financial services that could give OFWs investment options.
In a recent report to Malacañang on initiatives to improve the environment for millions of Filipinos working overseas, the BSP said it was undertaking projects to “streamline the tagging systems of banks to compile and identify OFW accounts with an end in view of granting special incentives to OFWs.”
Continue reading here…
You Might as well Interested Reading these OFW Posts:
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader. You may also subscribe via email for FREE by entering your email below and have us deliver what you need directly to your inbox.
Comments
No comments yet.
Leave a comment