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Published: 2018-03-05   

LBP Overseas Representatives discussed OFW Bank in Abu Dhabi

The group discussed the planned OFW Bank in Abu Dhabi, United Arab Emirates in April 2018.

The group discussed the planned OFW Bank in Abu Dhabi, United Arab Emirates in April 2018.

Credits: (Philippine Embassy in Abu Dhabi Facebook page)

Philippine Ambassador to the United Arab Emirates Constancio R. Vingno, Jr. received Landbank officials on a courtesy visit on February 28, 2018, at the Philippine Embassy.The group discussed the planned OFW Bank in Abu Dhabi, the United Arab Emirates in April 2018.

Present in the meeting were Administrative Officer Anselmo D. Ayos, Jr., Landbank Overseas Representative Officer John A. Holgado, Third Secretary and Vice Consul Von Ryan G. Pangwi, Landbank Overseas Representative Officer Roy Tabamo, Landbank Overseas Representative Officer Gerald T. Heriales and Landbank Overseas Representative Officer Mark Raymond N. Papa.

(from left to right) Administrative Officer Anselmo D. Ayos, Jr., Landbank Overseas Representative Officer John A. Holgado, Third Secretary and Vice Consul Von Ryan G. Pangwi, Philippine Ambassador to the United Arab Emirates Constancio R. Vingno, Jr., Landbank Overseas Representative Officer Roy Tabamo, Landbank Overseas Representative Officer Gerald T. Heriales, and Landbank Overseas Representative Officer Mark Raymond N. Papa.

Last September 28, President Rodrigo Duterte issued Executive Order No. 44, authorizing Landbank’s acquisition of Postbank to pave the way for the establishment of a financial institution dedicated to Filipino workers abroad.

Landbank President Mr Alex Buenaventura earlier said they were eyeing the launch of a pilot OF Bank branch in Dubai and another branch in Bahrain is expected to open in April 2018.

A total of around 25 branches will be opened in the United States, Japan, Middle East, and Hong Kong, among others.

The OFW Bank was first announced by Finance Secretary Carlos Dominguez III in December 2016. He said it would be partly owned by OFWs.

Reference:

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