00:00OFWs are having a hard time working in other countries.
00:05That's why every peso they earn should be managed properly
00:10and if possible, it should be distributed.
00:12That's the goal of a new online banking service
00:16dedicated to overseas Filipino workers.
00:20Let's watch this.
00:23OFWs are having a hard time working in other countries.
00:30That's why every peso they earn should be managed properly
00:35and if possible, it should be distributed.
00:40That's why every peso they earn should be managed properly
00:43and if possible, it should be distributed.
00:46That's why every peso they earn should be managed properly
00:49and if possible, it should be distributed.
00:52That's why every peso they earn should be managed properly
00:57This includes the ability to open an account online
01:01even if they are abroad.
01:03So we want to educate OFWs on how to open an account safe.
01:07And on the back of that, we'll introduce more and more products.
01:10Whether it's a credit product, whether it's insurance,
01:12whether it's a virtual payment account.
01:15So we'll start to see what their needs are.
01:17Then continue to add more offerings for them.
01:20The official launching of the new online banking program and services
01:24was led by the Deputy Prime Minister of Malaysia
01:27who is the Right Honorable Datu Seri Dr. Ahmad Zahid Hamidi
01:32together with the Ambassador of Malaysia to the Philippines
01:35Datu Abdul Malik Melvin Castellino Anthony.
01:38Also present here is the Department of Foreign Affairs
01:41Undersecretary Eduardo de Vega,
01:43the Department of Migrant Workers Secretary Hans Leo Kakdak
01:46and the Bank CEO Vijay Manoharan.
01:49We want OFWs to save
01:52and save in formal banking institutions,
01:56formal financial institutions,
01:58so that these financial institutions in turn
02:01can pool all OFW resources and income
02:04and offer back financial products that are viable.
02:08We were just told by CEO Vijay that
02:10financial literacy and education is one of their core thrusts.
02:13So we will support them in that.
02:15Also our core objective and general strategy
02:18aside from protecting OFW rights,
02:20we're here also to help OFWs
02:22protect their income and let it grow.
02:25Through the help of government and private sector agencies,
02:29OFWs will be able to help
02:32to learn how to plan and invest.
02:36This is so that they can pool their resources
02:40and benefit their families,
02:43communities and our country.
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