Thursday, December 8, 2016

President Duterte Fulfills Promise, Approves Establishment of First-Ever OFW Bank

Photo courtesy: JBSOLIS
President Rodrigo Duterte gave his formal nod for the creation of the bank that will solely cater Overseas Filipino Workers (OFW's.)

Presidential spokesperson Ernesto Abella said the President approved the proposal of Labor Secretary Silvestre Bello III on the Land Bank of the Philippines' acquisition of postal bank which will be renamed as Worker's Bank.

The plan is to make the Worker's bank as subsidiary of LBP until sufficient number of OFWs and other Filipino workers bought shares from them thereby establishing the first bank owned by the working class.

Agriculture Secretary Emmanuel PiƱol confirmed this good news separately on a social media post where he noted that the President will be fulfilling another campaign he promised to millions of migrant Filipino workers.

Source: Pinoy-OFW