Thursday, June 21, 2018

Jun 13 18, 3:32 pm

Authorities arrest maid for using another woman’s Emirates ID

Authorities arrested an Asian domestic helper was arrested for presenting another woman’s personal ID to be able to enter a building to clean flats. Dubai Police arrested the 40-year-old Filipina domestic helper on April 9 who presented an Emirates ID of a different...

Amnesty program for overstaying expats in UAE to begin on August 1

UAE’s three-month amnesty program for visa violators is set to begin on August 1, a senior official announced on Thursday, June 20. Acting Director General of Foreigners Affairs and Ports Department at the Federal Authority for Identity and Citizenship (FAIC),...

Pinoy student blames online addiction for stabbing cashier to death

A 34-year-old cashier who works at a convenient store in Batangas succumbed to death after getting stabbed by a student. The suspect admitted to the crime, blaming his being sleep-deprived due to excessive use of computer, reported ABS-CBN. "Nagdilim lang po talaga...

State of mental health in PH needs better attention

President Rodrigo Duterte signed into law the Republic Act 11036 or the Mental Health Law, which will secure affordable and accessible aid for people suffering from mental disorders. Senator Risa Hontiveros, author and principal author of the bill in the Senate, said...

Finance department to “partially privatize” OFW bank

by | News

The Department of Finance announced its plans to “partially privatize” the Overseas Filipino Bank (OFB) thus, reducing control of the Land Bank of the Philippines by more than 50 percent.

The Department of Finance said it would implement the plan by rolling out a digital banking system for the bank, reported PhilStar.

Finance secretary Carlos Dominguez III said the digital banking system would lead to “less state interference” from the Land Bank of the Philippines, which the OFB is a subsidiary of.

“We just need funds for all these, and we’re looking for assistance in this leapfrogging operation,” Dominguez said.

“This will allow us to partially privatize it in the future. Even bring down the share of LandBank to below 50 percent. These are things we’re looking at,” he added.

Dominguez added that the Department of Finance has sought the help of International Finance Corp. for the digital banking system.

The OFB is the result of President Rodrigo Duterte’s order to create a bank specifically for overseas Filipino workers (OFWs).

According to Executive Order No. 44, Land Bank is responsible to provide capital for the OFW bank.

Meanwhile, OFW Bank in Abu Dhabi and Dubai will be officially opened in time for President Rodrigo Duterte’s visit in the UAE around July this year.

This was revealed by Alex Buenaventura, Chairman of OFW Bank, during a Facebook live stream interview with Mocha Uson, Assistant Secretary for Social Media of the Presidential Communications Group.

He said that when the OFW Bank’s website is already up in the second quarter of 2018, interested OFWs can also apply through their online platform.

He added that when overseas branches are opened, OFWs can simply go there to open an account.

RELATED ARTICLE: When can Filipinos in Dubai open OFW Bank account

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Authorities in the UAE have always issued warnings that pregnancy out of wedlock is illegal. Despite this, cases persist and some happen in the Filipino community. Officials said one of the reasons for this is economic. DUBAI: Authorities in the UAE have always issued...

Over 400 employees arrested in Pampanga for multi-million online scam

Over 400 employees arrested in Pampanga for multi-million online scam

A total of 474 employees working in a company posing as a business process outsourcing firm in Pampanga were arrested by the Philippine National Police for their alleged involvement in a multi-million online scam. The PNP Anti-Cybercrime Group (ACG) and the Special...

Abused OFW dies of brain tumor thought to be headache

Abused OFW dies of brain tumor thought to be headache

An abused overseas Filipina worker (OFW) had succumbed to her death on June 8 after suffering from brain cancer. OFW Sabina Gipa died of brain cancer which was initially thought as a simple headache, reported GMA News. Gipa, an OFW in Saudi, was also left to the...

‘Saan ako nagkamali’: Tales of three OFWs in UAE

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State of mental health in PH needs better attention

President Rodrigo Duterte signed into law the Republic Act 11036 or the Mental Health Law, which will secure affordable and accessible aid for people suffering from mental disorders. Senator Risa Hontiveros, author and principal author of the bill in the Senate, said...

Gold rate in UAE drops to new 6-month low

Prices of gold in the UAE dropped to its lowest rate within the past 6 months on Thursday, June 21. Last month, gold prices dropped when 24-Karat (24K), 22K, 21K, and 18K gold were priced at Dh156.50, Dh146.50, Dh139.75, and Dh120.00, respectively, reported Khaleej...

Inglot rolls out a one-off Friday offer

Popular cosmetics maker, Inglot is having an offer tomorrow, Friday where the first 100 customers at MOE get a palette worth Dh290 FREE on the purchase of ANY JLOXINGLOT product. So, come one come all. See you there!

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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