Executive order creating OFW bank hailed in Pangasinan

FILE. (PCOO photo)

DAGUPAN CITY — Relatives of overseas Filipino workers in Pangasinan on Wednesday hailed the signing of Executive Order No. 44 by President Rodrigo Duterte converting the Philippine Postal Savings Bank into a bank that would deliver microfinance and micro-insurance products and services for OFWs, saying it would be a big boon to them who regularly receive cash remittances from abroad.

Rhoderick Ibasan, a resident of Bonuan Gueset who has a wife working in Saudi Arabia, said a bank exclusively for OFWs would  certainly help all those working abroad and their respective families that depend on their remittances.

The father of two expressed hope there would be a branch of the OFW bank in Dagupan. He said the bank would not serve its purpose if its head office in Manila has no provincial branches.

Joy de la Cruz, a housewife from Manaoag, Pangasinan, said she has in-laws working in the United States and in Saudi Arabia, so an OFW bank to be established by the present administration is certainly most welcome as it would ensure hassle-free dollar remittances to their families back home

Records of the Pangasinan Provincial Employment Office (PESO) showed that Pangasinan has the biggest number of OFWs in the entire country and would certainly benefit from the proposed OFW bank. (PNA)