Tuesday, February 19, 2019

Feb 11 19, 10:01 am

Dubai residents urged to participate in Car-Free Day

The Dubai Municipality urged residents to leave their vehicles parked on February 24 and opt to use public mode of transportation in celebration of the annual “Car-Free Day”. In a tweet, the Dubai Municipality encouraged residents to walk, bike, or use public...

Scaffolding collapses in Abu Dhabi

The Abu Dhabi Municipality confirmed that a scaffolding collapsed at a building demolition site on Monday, February 18. The Abu Dhabi Crisis Management Team, Abu Dhabi Police, Department of Urban Planning and Municipalities, and the Department of Transport,...

Tricycle driver accused of raping Irish tourist in Palawan

A tricycle driver in El Nido, Palawan was accused of raping a 21-year-old Irish tourist on Wednesday night. The victim said that the 39-year-old tricycle driver, who was identified as Perry Gaspe, took advantage of her when she was on her way to a hostel, reported...

BREAKING NEWS: OFWs in UAE brace for rising remittance fees

by | News

DUBAI: Overseas Filipino workers (OFWs) in the UAE are bracing themselves for the effects of a reported increase in the cost of sending money to loved ones back home.

“The increases might be coming from the front-end fees of the remittance partners from the originating countries most probably due to implementation of VAT per item/amount of remittances,” said Edwin Punzalan, Assistant Vice President for BDO Remittance and Marketing Officer for Remittance International Operations at BDO Unibank.

He said that with this increase “our OFWs will definitely find ways to minimize the cost most especially by sending remittances online where some are offering free charges and fees.”

Another knowledgeable industry source said the increase, which according to local media is being monitored by the World Bank, “is mainly VAT-related” and has actually not been implemented across all remittance centers.

“I don’t think we have encountered that (increase). We monitor the rates every day,” the official said on condition of anonymity.

News of an increase in remittance fee is feared to cost further decline in the remittance market, which according to the same industry source, has been experiencing a slump in the past 11 months mainly due to the employment situation in the country.

Punzalan said an option for OFWs is to find channels offering online, fast, reliable services that are free of charges to minimize the cost of sending money.

Remittance fees are imposed to cover the cost by the remitting company of transferring the money to the home country.

The World Bank has been tracking remittance fee increases following global efforts to reduce the cost of sending money by foreign workers to their families in their home countries.

Punzalan said the Philippine Central Bank has taken on a direction to reduce back-end charges.

To this end, legislation – House Bill 9032 principally authored by Rep. Aurelio Gonzales Jr. – has been approved on second reading in the lower house of the Philippine Congress that would grant mandatory discounts of up to 50% in fees that OFWs pay banks and non-bank financial intermediaries when sending money home.

As of press time the peso-dirham exchange rate is at Php14.20.

Jobs

Editors Choice

21 in 39 Boeing planes in Middle East in 2018 are UAE carriers

21 in 39 Boeing planes in Middle East in 2018 are UAE carriers

WAM: Boeing delivered 39 airplanes in 2018 to its regional customers in the Middle East, 21 of which were to UAE carriers, according to Bernard J. Dunn, President, Boeing Middle East, North Africa and Turkey. In an exclusive interview with the Emirates News Agency,...

RTA opens main bridge at intersection of Expo Road, Al Asayel Street

RTA opens main bridge at intersection of Expo Road, Al Asayel Street

WAM: Dubai’s Roads and Transport Authority (RTA) has opened a main bridge at the intersection of Expo Road and Al Asayel Street. The bridge is a part of Phase 5 of the roads network leading to Expo site. The completion rate of this phase has exceeded 50 percent, and...

Immigration officers at NAIA banned from using phones while on duty

Immigration officers at NAIA banned from using phones while on duty

The Bureau of Immigration (BI) has barred its personnel at the Ninoy Aquino International Airport (NAIA) as well as other international ports in the country from using cell phones while on duty. BI Commissioner Jaime Morente said that the move seeks to ensure that...

Dubai residents urged to participate in Car-Free Day

The Dubai Municipality urged residents to leave their vehicles parked on February 24 and opt to use public mode of transportation in celebration of the annual “Car-Free Day”. In a tweet, the Dubai Municipality encouraged residents to walk, bike, or use public...

Scaffolding collapses in Abu Dhabi

The Abu Dhabi Municipality confirmed that a scaffolding collapsed at a building demolition site on Monday, February 18. The Abu Dhabi Crisis Management Team, Abu Dhabi Police, Department of Urban Planning and Municipalities, and the Department of Transport,...

Recent posts

We listed over 1,000,000 jobs from United Arab Emirates monthly.

Accomodation option available in the market.

Latest News
Subscribe to our free weekly newsletter and never miss a thing. No spam. Only hand-picked trending news.

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.

FOLLOW US

SIGN UP FOR NEWSLETTER

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.

FOLLOW US

SIGN UP FOR NEWSLETTER

© 2018 The Filipino Times. All rights reserved

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!