By Leilanie G. Adriano
Staff reporter
Laoag
City—The Bankers Association of the
Philippines (BAP) in partnership with the Ilocos Norte government held a
financial literacy education program to families of Overseas Filipino Workers
(OFWs) here.
The program, which was free
for all concerned, was held March 13 at the Tabacalera Function Hall
The country’s most
distinguished speakers and executives from the finance sector “Shared their
insights on topics that are relevant in today’s finance conscious Ilocano,” the
organizers said.
Part of the discussions included
a presentation on how to optimize savings and maximize returns, microfinance
loans and investment options.
As part of the continuing
program of the Ilocos Norte Investment Office and the Gender and Development
Office to promote investment opportunities and livelihood development, the
event is expected to empower OFW families to help manage the hard-earned
remittance sent by their families abroad.
Over the years, there had
been so many unfortunate stories of OFWs who sacrificed to be away
with their families only to end up with no substantial savings and investments
for the future.
In Ilocos Norte, almost all
Ilocano households here have families abroad.
Based on a study conducted by
World Bank, financial education and literacy becomes “most effective” when
given to OFWs and their families.
To date, the country remains
one of the largest recipients of foreign remittances behind India and China
with an estimated 20 percent of Filipino households receiving remittances.
Comments
Post a Comment