Financial Literacy Program for OFW Families


Posted in Corporate Social Responsibility

BAIPHIL CONDUCTS FINANCIAL LITERACY PROGRAM FOR OFW FAMILIES
(March 9, 2010)

MARILEN M. RUIZ, Chairperson of Special Projects Committee (SPC) awards ARTICER O. QEUBAL, former SVP, DBP and BAIPhil President, who conducted a seminar on Financial Literacy Program for OFW Families on March 9, 2010 at Calamba, Laguna.

(L-R) Julie Fabian, Regional Director, OWWA, Dir. Vivian Tornea, Director, OWWA, Marilen M. Ruiz, SPC Chair, Art Quebal, Gina Mendoza, Manager, BAIPhil and Gina de Guzman, member, SPC.

In line with the thrust of the Bankers Association of the Philippines (BAP) to continue the legacy of former BSP Governor Rafael Buenaventura to conduct financial literacy programs to the beneficiaries of Overseas Filipino workers, Baiphil partnered with BAP and the Overseas Workers Welfare Administration (OWWA) in order to do so.

Baiphil, through its Special Projects Committee headed by Marilen Medina- Ruiz, conducted a pilot run of its Financial Literacy Program to 58 families of Overseas Filipino Workers living in Laguna. The seminar, which was conducted by Mr. Art Quebal, former SVP & Head Remittance Center of DBP, was held at the DOLE Region IV – A office located in Calamba, Laguna. Mr. Quebal talked about money management tips particularly savings for the future. He also talked about the situation of OFWs in their respective countries of work, the social impact of the OFW Diaspora, the importance of providing appropriate guidance to the children of OFWs, the importance of regular communication between the OFW and their dependents, and livelihood programs which OFWs/dependents can go into to augment their families’ income. They were asked to evaluate the seminar and they were unanimous in their assessment that it was excellent and that they were willing to attend similar seminars in the future. It was also attended by Dr. Vivian Tornea, Director of OWWA, and Julie Fabian, Regional Director of OWWA. Baiphil was able to solicit give aways from DBP, PNB, landBank and Eastwest Bank for the participants. Merienda was also served to all the participants before the end of the seminar.

The participants, who actively participated during the seminar, greatly appreciated this endeavor of BAP and Baiphil in educating them on how to manage the little amount that they receive from their family members working abroad.