Business

BSP Briefs OFWs, Families
On Investment Opportunities

By Venus G. Villanueva

Overseas Filipino Workers (OFWs) from Aklan and their families got a rare chance to learn investment opportunities for their money remittances from abroad. Through the Bangko Sentral Ng Pilipinas (BSP) and the Overseas Workers Welfare Administration (OWWA) conducted a Financial Learning Campaign (FLC) last month in Kalibo.
BSP Kalibo Branch held the financial learning campaign at the ACP Centerpoint (formerly Aklan Development Bank building) with 100 participants composed of OFWs and their families. The participants came from all over Aklan.
According to Ms. Leonora Templonuevo, the OFWs were taught about the different alternatives on where to invest their remittance money–which may be through savings account, time deposit, checking account, stocks and bonds, insurance and putting up a small business (including agri-business). Ms. Templonuevo is the Officer In-Charge of BSP, Kalibo.
Invited speakers were from the BSP, OWWA, Department of Agriculture, Philamlife, and the Department of Trade and Industry. Topics discussed included” Leveraging Remittance for Development”, given by Ms. Ruth Gonzaga, Acting Bank Officer VI, BSP; “Significance of Financial Planning”, by Vivian Tornea, OWWA; “Savings and Investments in Financial Instruments”, by Jose Leo Palcutan, Palcutan Agency, Philamlife; “Agribusiness Opportunities for Micro-Enterprises, by Nemelita G. Sungcaya, Chief Agriculturist, Agribusiness Investment and Enterprise Development Division, DA.
“Aquaculture-based Business Opportunities for Micro-Enterprises”, by Dr. Clarissa Marte, Head, Seafdec-AQD, Iloilo; “Financing Options for Micro-enterprises”, Raul Balandra, President, Federation of Rural Banks, and “One Town, One Product (OTOP)” by DTI-Aklan Provincial Director Ermelinda Pollentes. A testimony of a Successful OFW Micro-entrepreneur was also delivered after the talks aimed to inspire OFWs and members of their families.
Templonuevo revealed the FLC in Aklan was the third conducted in Western Visayas after Iloilo and Roxas. The BSP’s move in aiding OFWs and their families in investing their money wisely is in response to the national government’s call to government agencies to assist this sector, which is instrumental in further helping the country improve the economy. /MP