Press Release - Revilla sponsors OFWs financial literacy enhancement bill

SENATOR Ramon Bong Revilla, Jr. on Monday (September 9) co-sponsored Senate Bill No. 2792 which seeks to enhance the financial literacy of overseas Filipino workers (OFWs). SBN 2792 was principally sponsored by Sen. Raffy T. Tulfo, Senate Committee on Migrant Workers Chairman.

Recognizing the valuable contributions of OFWs to the country and the national economy, the bill aims to mandate all OFWs to undergo financial literacy orientation seminars which shall be part of their Pre-Departure Orientation Seminar. OFWs who shall enter a new contract will be required to undergo Post-Arrival Training Seminars (PATS) on financial literacy. Moreover, financial literacy training may also be incorporated in Pre-Migration Orientation Seminars (PMOS), OFW family and children's circles learning sessions, and other training programs under the Department of Migrant Workers and other relevant agencies.

The training programs shall be free of charge. Lectures and discussions shall cover topics such as financial planning, saving and budgeting, debt management, financial products, digital financial literacy, cyber-hygiene, data integrity, fraud and scam prevention, financial consumer protection, financial patterns, practices and culture of the country of destination, and other relevant topics.

"Ang panukalang ito ang magsisilbing daan upang hindi mauwi lang sa wala ang bawat patak ng pawis, puyat, pagod at pangungulila ng ating mga kababayang nagpapakahirap maghanapbuhay sa ibang bansa. Financial literacy is a powerful tool that will keep every OFW protected - as this will equip them with the necessary knowledge and skills to manage their earnings, resources, investments, remittances," Revilla explained.

"Pagdating ng araw, kapag nagbalik-tanaw sila sa mga pinagdaanan at mga pinaghirapan nila, hindi po ba't masarap isipin na katuwang tayo upang magkaroon sila ng maayos na masisilungan, edukasyon para sa kanilang pamilya at sapat na naipundar na magbibigay sa kanila ng tyansa na mamuhay ng komportable, masaya at wala na pang ibang aalalahanin," he closed.