Monday, December 10, 2018

Jun 13 18, 3:32 pm

Manager to spend 3 months in jail for groping Asian cleaner

The Egyptian manager who groped a Filipina in Dubai lost his appeal on the case will be spending three months in jail for the crime. The Appeal Court on Sunday, December 9, confirmed the three-month jail sentence given towards the Egyptian manager after the court...

United Filipino Optometrists hold General Assembly

The United Filipino Optometrists held their General Assembly at the Marriott Downtown Abu Dhabi last December 6. Over 80 of the UAE’s Filipino optometrists attended the event themed Optometry Management and its Clinical Challenges. The assembly was held in cooperation...

APO holds 93rd International Anniversary

Alpha Phi Omega – Abu Dhabi Alumni Association (APO-ADAA) recently held their 93rd Anniversary Banquet with over 50 members and guests in attendance at the Holiday Inn Hotel in Abu Dhabi last December 7. Themed, “Converging the strands of Leadership, Friendship and...

50 injured at free Coca-Cola concert in Pasay City

Fifty people were rescued after being injured in a free concert on Friday that was called off as bottles were hurled in the middle of the crowd. Fearing for a would-be stampede, the authorities requested the organizers to call off the event which was estimated to be...

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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DUBAI: The Christmas season for Filipinos nears its most festive celebrations! A few days more and all Filipinos, from the Philippines and all over the world, will be enjoying the most wonderful time of the year together with their families, friends, co-workers,...

Php4.2-billion China-funded bridge in Manila OK’d

Php4.2-billion China-funded bridge in Manila OK’d

The Department of Public Works and Highways (DPWH) announced on Tuesday, Dec. 4, that the construction of the Binondo-Intramuros Friendship Bridge will push through and promised to ensure that the China-funded bridge would not affect Manila’s heritage sites. In a...

Speed limit increased in parts of Abu Dhabi

Speed limit increased in parts of Abu Dhabi

Speed limit increase, now at 140kmph, has been implemented on Sunday, December 2, in several roads in Abu Dhabi. Authorities implemented the new speed limit following the results of various studies regarding causes of accidents in the UAE. Among the roads where the...

Off The Hook opens 4th branch in Abu Dhabi

Off the Hook has just launched their 4th branch located at Tourist Club area in Abu Dhabi in a grand ribbon-cutting ceremony last December 7, Friday. In attendance were Consul Rowena Pangilinan-Daquipil, Off the Hook Managing Director Rolly Brucales, together with Off...

United Filipino Optometrists hold General Assembly

The United Filipino Optometrists held their General Assembly at the Marriott Downtown Abu Dhabi last December 6. Over 80 of the UAE’s Filipino optometrists attended the event themed Optometry Management and its Clinical Challenges. The assembly was held in cooperation...

APO holds 93rd International Anniversary

Alpha Phi Omega – Abu Dhabi Alumni Association (APO-ADAA) recently held their 93rd Anniversary Banquet with over 50 members and guests in attendance at the Holiday Inn Hotel in Abu Dhabi last December 7. Themed, “Converging the strands of Leadership, Friendship and...

50 injured at free Coca-Cola concert in Pasay City

Fifty people were rescued after being injured in a free concert on Friday that was called off as bottles were hurled in the middle of the crowd. Fearing for a would-be stampede, the authorities requested the organizers to call off the event which was estimated to be...

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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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