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Feb 18 19, 8:53 am

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OFWs now required to attend financial literacy seminar before flying abroad

by | News

Feb. 18, 19 | 8:53 am

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.

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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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