23 March 2014
Filipinos in the Kingdom expressed mixed reactions regarding a Bangko Sentral ng Pilipinas (BSP) report that remittances of Overseas Filipino Workers (OFWs) rose from 5.9 percent to $1.8 billion in January.
The BSP also reported revisions in 2013 remittance numbers, which showed that cash transfers rose by 7.4 percent, as opposed to 6.4 percent reported previously.
"That's good news. It means that the crackdown on foreign workers in the Kingdom has not affected OFWs' remittances," said Nonie "Cenon" C. Sagadal, a Telemoney representative.
Sagadal, who is also a Filipino community leader added, "It has been reported that about 10,000 OFWs went home as a result of the implementation of the new labor laws, although many are also arriving to work in various parts of the Kingdom."
Danny Calape, representative of the Social Security System (SSS) in the Saudi capital, added that it's a good sign that OFWs' remittances increased in January.
"It shows OFWs' concern for their families which is also reflected in their continuous payments of monthly SSS contributions toward their retirement fund," said Calape, who's due to transfer to Abu Dhabi.
But other OFWs viewed the increased remittances in a different way.
"If there was an increase in the money being sent monthly in January, it's because OFWs were preparing for the graduation of their children from high school or college," said Eli Mua, chairman of the board of directors of the United OFW.
He added that a graduation is a "milestone for Filipino parents and students where they either celebrate at home or go out to eat as a family in restaurants."
He added that it also showed that "OFWs have renewed their confidence in the administration of President Benigno "Noynoy" Aquino lll.
Rodolfo Cornejo, a community leader in Jeddah said, "If the report is accurate, it is a good sign.
However, if the BSP wanted to boost the image of OFWs and encourage them to continue sending money to the Philippines, it could have issued a report because now we have no way of verifying the news," he added.
Eduard Rodriguez, a spare parts manager at the Arab Equipment Est., in AlKhobar said, "I hope that the report is true. If it is, I pray that it will rebound for the collective benefit of Filipinos."
He added however, that the BSP "might have just wanted to impress President Benigno "Noynoy" Aquino lll who has carved out an image of incorruptibility and good governance."
Filipinos in the Kingdom expressed mixed reactions regarding a Bangko Sentral ng Pilipinas (BSP) report that remittances of Overseas Filipino Workers (OFWs) rose from 5.9 percent to $1.8 billion in January.
The BSP also reported revisions in 2013 remittance numbers, which showed that cash transfers rose by 7.4 percent, as opposed to 6.4 percent reported previously.
"That's good news. It means that the crackdown on foreign workers in the Kingdom has not affected OFWs' remittances," said Nonie "Cenon" C. Sagadal, a Telemoney representative.
Sagadal, who is also a Filipino community leader added, "It has been reported that about 10,000 OFWs went home as a result of the implementation of the new labor laws, although many are also arriving to work in various parts of the Kingdom."
Danny Calape, representative of the Social Security System (SSS) in the Saudi capital, added that it's a good sign that OFWs' remittances increased in January.
"It shows OFWs' concern for their families which is also reflected in their continuous payments of monthly SSS contributions toward their retirement fund," said Calape, who's due to transfer to Abu Dhabi.
But other OFWs viewed the increased remittances in a different way.
"If there was an increase in the money being sent monthly in January, it's because OFWs were preparing for the graduation of their children from high school or college," said Eli Mua, chairman of the board of directors of the United OFW.
He added that a graduation is a "milestone for Filipino parents and students where they either celebrate at home or go out to eat as a family in restaurants."
He added that it also showed that "OFWs have renewed their confidence in the administration of President Benigno "Noynoy" Aquino lll.
Rodolfo Cornejo, a community leader in Jeddah said, "If the report is accurate, it is a good sign.
However, if the BSP wanted to boost the image of OFWs and encourage them to continue sending money to the Philippines, it could have issued a report because now we have no way of verifying the news," he added.
Eduard Rodriguez, a spare parts manager at the Arab Equipment Est., in AlKhobar said, "I hope that the report is true. If it is, I pray that it will rebound for the collective benefit of Filipinos."
He added however, that the BSP "might have just wanted to impress President Benigno "Noynoy" Aquino lll who has carved out an image of incorruptibility and good governance."
© Arab News 2014
