Tingnan natin.

Mga ganitong bagay malaki sana maitutulong para maka pag ipon ang OFW at ang kangyang pamilya, at nang may mapuntahan ang perang pinaghirapan.

Sana.

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Gov’t reaching out to OFWs
By Doris Dumlao
Philippine Daily Inquirer
 
Posted date: January 18, 2008
 

MANILA, Philippines — Overseas Filipinos workers (OFWs) may get to learn a thing or two about investments when the government embarks on a series of roadshows in Hong Kong and Dubai specifically to inform Filipino workers there of the financial opportunities that are within their reach.
State-owned Development Bank of the Philippines (DBP) starts this Friday a financial literacy program in Hong Kong, where it hopes to brief OFW groups and associations there on the different financial packages tailored to fit their needs.

“This year we’re going really big on hedging and livelihood,” said Jaime Panganiban, acting chief executive of Al-Amanah Bank and consultant to DBP.

Finance Secretary Margarito Teves and top officials of the Department of Labor and Employment and Philippine Overseas Employment Agency will join the Hong Kong campaign.

President Gloria Macapagal-Arroyo is expected to launch the overall OFW strategy package in Dubai at the end of this month.

Government-owned Land Bank of the Philippines will launch its high yielding peso-denominated deposit products for OFWs in Dubai.

The DBP will also join the Dubai campaign to roll out its remittance, hedging, housing loan and entrepreneurial products for the OFWs and their families.

Panganiban said the DBP had tied up with Philippine Long Distance Telephone Co. (PDLT) for the Negosyo-Inet program for OFWs looking for entrepreneurial opportunities.

Using its DSL broadband network, PLDT offers a package for OFWs wishing to put up Internet café stations across the country.

In this OFW strategy, Land Bank is mandated to spearhead the offering of investment instruments with the help of HSBC and DBP, which will focus on offering protection and livelihood products.

The DBP’s hedging program refers to financial instruments that will protect holders against the depreciation of the peso.

A hedging instrument offered by the DBP is foreign exchange insurance, an agreement that gives a client the right but not the obligation to sell US dollars at a pre-agreed rate on a specified date (basically a put option).

Another product is a forward foreign exchange contract to deliver a specific amount at a specified exchange rate on a specified future date.

Based on the DBP’s estimates, about 2,700 Filipinos leave the country daily or one million yearly to work overseas. The top destinations for contract workers are: Saudi Arabia, Hong Kong, United Arab Emirates and Kuwait.
 http://business.inquirer.net/money/topstories/view/20080118-113154/Govt-reaching-out-to-OFWs
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Roadshows launched to inform OFWs of financial instruments
By Doris Dumlao
Philippine Daily Inquirer
 
Posted date: January 17, 2008
 

MANILA, Philippines — Filipino workers abroad may get to learn a thing or two about investments when the government embarks on a series of roadshows in Hong Kong and Dubai, specifically to inform workers there of the financial opportunities that are within their reach.
State-owned Development Bank of the Philippines starts on Friday a financial literacy program in Hong Kong, where it hopes to brief OFW groups and associations there on the different financial packages tailored to fit their needs.

“This year we’re going really big on hedging and livelihood,” said DBP consultant and acting CEO of Al-Amanah Bank Jaime Panganiban.

Finance Secretary Margarito Teves and top officials of the Department of Labor and Employment and the Philippine Overseas Employment Agency will join the Hong Kong campaign while President Gloria Macapagal-Arroyo is expected to launch the overall OFW strategy package in Dubai at the end of January.

Land Bank of the Philippines will launch its high yielding peso-denominated deposit products for OFWs in Dubai.

The DBP is also set to join the Dubai campaign to roll out its remittance, hedging, housing loan and entrepreneurial products for the OFWs and their families.

Panganiban said the DBP tied up with telecom giant Philippine Long Distance Telephone Co. for the Negosyo-Inet program for OFWs looking for entrepreneurial opportunities.

Using its DSL broadband network, PLDT offers a package for OFWs wishing to put up Internet café stations across the country.

In this OFW strategy, Landbank is mandated to spearhead the offering of investment instruments with the help of HSBC and DBP, which will focus on offering protection and livelihood products.

The DBP’s hedging program refers to financial instruments that will protect holders against the depreciation of the peso.

One hedging instrument offered by the DBP is a foreign exchange insurance, an agreement that gives a client the right but not the obligation to sell US dollars at a pre-agreed rate on a specified date (basically a put option).

Another product is a forward foreign exchange contract to deliver a specific amount at a specified exchange rate on a specified future date.

Based on the DBP’s estimates, about 2,700 Filipinos leave the country daily or one million yearly to work overseas. The top destinations for contract workers are: Saudi Arabia, Hong Kong, United Arab Emirates and Kuwait.
 
http://globalnation.inquirer.net/news/breakingnews/view/20080117-113145/Roadshows-launched-to-inform-OFWs-of-financial-instruments

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