Tuesday, 7 December 2010
PHILIPPINES: A safer and cheaper way to send home money
MANILA, Philippines – The Yuletide season is an opportune time to remember all Filipinos toiling overseas for the future of their families and their country.
Their ever-increasing remittances have been a source of resiliency for the Philippine economy.
Migrant Filipinos send more money than usual to their families during the Christmas season so their loved ones could fully enjoy their Yuletide celebration.
Just before the holidays last year, the Bangko Sentral ng Pilipinas signed an agreement with the Association of Bank Remittance Officers, Inc. (ABROI), the Bankers Association of the Philippines (BAP), the Chamber of Thrift Banks (CTB), and the Rural Bankers Association of the Philippines (RBAP) to enable their members to course the money transfers of OFWs through the BSP’s electronic and settlement system. Read more