News

OFWs now required to attend financial literacy seminar before flying abroad

A new government program now includes attendance in a financial literacy seminar as a requirement for Filipinos who wish to fly abroad.

Under the Pinanysal na Talino at Kaalaman (PiTaKa) program, overseas Filipino workers (OFWs) will be trained on managing their finances especially once they start working abroad.

The program will be a part of the Pre-Departure Orientation Seminar (PDOS) and Post-Arrival Orientation Seminar (PAOS) of OFWs where they will be watching a series of videos on financial literacy.

The program seeks to help OFWs transition from being spenders to being savers until they eventually decide to establish their own businesses in the Philippines or abroad.

“As remittances consistently account for 10 percent of the Philippines’ gross domestic product, OFWs are indeed modern-day heroes. Yet, we continue to hear stories of OFWs facing financial struggles,” BSP Governor Nestor Espenilla Jr. said in a statement.

“The PiTaKa program aims to change these sad stories into ones with happy endings—OFWs and their families living together in the Philippines, with the capability to sustain their financial health, and productively contribute to the national economy,” he added.

The program is spearheaded by the Bangko Sentral ng Pilipinas (BSP) in partnership with the Overseas Workers Welfare Administration (OWWA) and the BDO Foundation.

Staff Report

The Filipino Times is the chronicler of stories for, of and by Filipinos all over the world, reaching more than 236 countries in readership. Any interesting story to share? Email us at [email protected]

One Comment

Related Articles

Back to top button