Filipinos working abroad, also known as Overseas Filipino Workers (OFW), do not lose their basic rights as citizens of the Philippines despite working and being physically present in another country.
More OFW families are now saving and investing
Now, here’s one more good news.
According to the Bangko Sentral ng Pilipinas (Central Bank of the Philippines), almost half of the families of Overseas Filipino Workers (OFW) are now saving and investing part of the remittances they are receiving.
PNB’s ‘no maintaining balance’ policy for OFWs
A Philippine Daily Inquirer article reported that the Philippine National Bank (PNB) has been implementing a “no maintaining balance” policy for overseas Filipino workers (OFWs) and their dependents since 2007.