Skip to main content

BAP hold financial literacy seminar for Ilocos Norte’s OFW families

By Leilanie G. Adriano
Staff reporter

Laoag City—The Bankers Association of the Philippines (BAP) in partnership with the Ilocos Norte government held a financial literacy education program to families of Overseas Filipino Workers (OFWs) here.

The program, which was free for all concerned, was held March 13 at the Tabacalera Function Hall

The country’s most distinguished speakers and executives from the finance sector “Shared their insights on topics that are relevant in today’s finance conscious Ilocano,” the organizers said.

Part of the discussions included a presentation on how to optimize savings and maximize returns, microfinance loans and investment options.

As part of the continuing program of the Ilocos Norte Investment Office and the Gender and Development Office to promote investment opportunities and livelihood development, the event is expected to empower OFW families to help manage the hard-earned remittance sent by their families abroad.

Over the years, there had been so many unfortunate stories of OFWs who sacrificed to be away with their families only to end up with no substantial savings and investments for the future.

In Ilocos Norte, almost all Ilocano households here have families abroad.

Based on a study conducted by World Bank, financial education and literacy becomes “most effective” when given to OFWs and their families.


To date, the country remains one of the largest recipients of foreign remittances behind India and China with an estimated 20 percent of Filipino households receiving remittances.

Comments

Popular posts from this blog

Empanada festival: A celebration of good taste and good life

By Dominic B. dela Cruz & Leilanie G. Adriano Staff reporters BATAC CITY—If there is one thing Batac is truly proud of, it would be its famous empanada-making business that has nurtured its people over the years. Embracing a century-old culture and culinary tradition, Batac’s empanada claims to be the best and tastiest in the country with its distinctive Ilokano taste courtesy of its local ingredients: fresh grated papaya, mongo, chopped longganisa, and egg. The crispy orange wrapper and is made of rice flour that is deep-fried. The celebration of this city’s famous traditional fast food attracting locals and tourists elsewhere comes with the City Charter Day of Batac every 23 rd  of June. Every year, the City Government of Batac led by Mayor Jeffrey Jubal Nalupta commemorate the city’s charter day celebration to further promote its famous One-Town, One Product, the Batac empanada. Empanada City The Batac empanada festival has already become an annua

PIDS expert says income tax cuts justified; warns gov’t of revenue loss

Proposals to amend the personal income tax schedule appear to be well-justified. However, these proposals should include measures that will allow government to recover the revenue loss from lower income taxes. Dr. Rosario Manasan, senior research fellow of state think-tank Philippine Institute for Development Studies (PIDS), said at a seminar sponsored by the Philippine Senate, that government should look for new revenue measures to compensate for the projected revenue loss that will arise as a result of the implementation of any of the various proposals to restructure the personal income tax. Currently, there are several income tax reform proposals pending in both houses of Congress. All of them, according to Dr. Manasan, have the same objective of addressing the phenomenon of bracket creep, which results from “non-indexation to inflation of personal income tax brackets”. Simply put, bracket creep occurs when employees’ income increases over time as a result of inflation. Th

PGIN honors Ilocano heroes of past, present through Heroes Walk

SPO1 Allan Lampitoc Franco of Banna, Ilocos Norte and PO2 Jovalyn D. Lozano of Adams, Ilocos Norte receive a resolution of commendation, a certificate of college scholarship grant to their family members and a P20,000 cash incentive each from the Provincial Government of Ilocos Norte represented by Governor Imee R. Marcos and Vice Governor Angelo M. Barba in recognition of their bravery and heroic acts in the Mamasapano clash in Maguindanao on January 25. Mr. Franco and Mr. Lozano were recognized on March 10 in time for the unveiling of the second batch of Ilocano heroes at the Heroes Walk located along the Sirib Mile in Laoag City.  (Lei Adriano) By Jennifer T. Pambid PGIN-CMO In honor of the heroes who brought freedom, fame and glory to the province as well as to the country in the past century, the Provincial Government of Ilocos Norte (PGIN) through the Education Department and Sirib Youth Office launched the second batch of Ilocano Heroes Walk on March 10, 2015.