November 20, 2007 Updated 01:04:01 (Mla time) Inquirer
The central bank, Bangko Sentral ng Pilipinas (BSP), said it had prepared measures to improve make more transparent the mechanisms for money remittances from overseas Filipino workers (OFWs) and to cushion the adverse impact of a strong peso on households supported by OFW incomes.
Banks will be required to post in their premises and websites their various remittance products and charges with breakdowns of costs, delivery time to beneficiaries, and other relevant information, the BSP in a recent report to Malacañang. [Read more]
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