Good News : OFW Bank Finally Launched
The long wait is finally over. Overseas Filipino Workers (OFW) now has their own bank which was launched on Thursday, January 18, led by none other than the President himself President Rodrigo Duterte. It can be recalled that President Duterte signed an Executive Order No. 44 last September 28, 2017 prompting the attainment of Philippine Postal Savings Bank by the Land Bank of the Philippines, which was later named as Overseas Filipino Bank. “Through the Overseas Filipino Bank, we give back what is due to our kababayans abroad through a bank specially dedicated to servicing their banking and financing requirements,” says Duterte in a statement. The OFB is expected to serve as a “policy bank dedicated to providing financial products and services tailored to the requirements of overseas Filipino,” as per their statement. “The creation of OFBank, a wholly-owned Savings Bank subsidiary of Landbank that will cater to the needs of the sector, will stre...