The issue of the transfer of 1 Billion OWWA Fund to Phil. Postal Savings Bank was opposed by many OFWs. The Overseas Filipino Workers Congress-Riyadh is one of the many groups who believe that the transfer is not in the best interest of the OFWs in general.
One of the several solutions that we proposed is that – if there is really a transfer of fund as what PGMA recently announced, it must be in a form of a legislative measure where we can see the implementing guidelines, rules and its mechanisms.
Last April 16, 2006, the OFWC wrote a letter to Senator Manuel Villar, Jr. on the proposed Senate Bill 639 he authored re: creation of Phil. Overseas Workers Bank for us to evaluate the said bill and in order to determine whether it is for the best interest of the Migrant Filipinos.
Below is his reply through the office of his Legislative Officer Reesa Novella and kindly see attached link for the full text of SB 639. – BongA
28 April 2006
Mr. Manuel Amora
Overseas Filipino Workers Congress
Riyadh, Kingdom of Saudi Arabia
Dear Sec. Gen. Amora:
We would like to extend our warm greetings to the Overseas Filipino Workers Congress in Riyadh and the entire Saudi Arabia.
We are in receipt of your letter dated 16 April 2006 requesting for a copy of Senate Bill No. 639 or the Philippine Overseas Workers Bank. Attached is a soft copy of the bill which seeks to address the Filipino overseas workers various financial needs and concerns and further enhance their investment potential.
Thank you very much for your interest in the bill. We will appreciate if you could send us your comments about it.
Our office is always more than willing to help our OFWs.