President Rodrigo Duterte is set to visit the UAE in July this year to grace the opening of the overseas Filipino bank (OFW Bank) in Abu Dhabi and Dubai.
During a live stream interview of Mocha Uson, Assistant Secretary for Social Media of the Presidential Communications Group, with Alex Buenaventura, Chairman of the OFW Bank, on Facebook, it was revealed that the bank will be first opened in the UAE than in any other parts of the world.
Buenaventura said that representatives of the OFW Bank will have an office in the UAE, as well as in Bahrain, to facilitate the operation of the OFW Bank.
In a previous phone interview with TFT, Labor Secretary Bello said the process and requirements for opening an account are the same as those of other banks.
For now, he said OFWs who are in the Philippines can now directly open their accounts at the recently opened branch in Liwasang Bonifacio in Manila and choose the nature of their account – whether it will be savings, deposit, checking, etc.
He said that the OFW Bank’s website will be accessible in the second quarter of 2018 and when that happens, Filipinos in all parts of the globe can log in to this online platform to apply.
“Kapag na-ready na [‘yung website], pwedeng mag-online [application] kayo.
Bello added that opening an account is free for all overseas Filipinos, and no processing fee shall be charged.
As of now, it is exclusive for OFWs only, but the government is planning to expand its services for OFW families.
