Another campaign promise of President Rodrigo Duterte will be fulfilled today with the launch of the Overseas Filipino Bank (OFB), the Finance department said on Wednesday. “It’s just a matter of the administrative integration of the bank,” Dominguez said. PostalBank would then be renamed Overseas Filipino Bank, which would be “dedicated to provide financial products and services tailored to the requirement of overseas Filipinos”. Previously conceptualized as a bank catering exclusively to the needs of overseas Filipino workers, OFB’s mandate was later expanded to include services for all foreign-based Filipinos to make it more inclusive. Dominguez said the Finance department and LandBank were also planning to secure licenses in other countries so the latter can provide financial advisory services to the Filipino communities there.

Source: Manila Times January 17, 2018 17:15 UTC