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DROP IN REMITTANCES OF FILIPINO WORKERS

According to figures obtained from the Central Bank of the Philippines (BSP), cash remittances from Filipino workers in Kuwait and other countries of the Middle East dropped by an average of 15 percent during the period from January to July this year, reports Al-Rai daily.

 

An article published on arabnews.com reveal that remittances of Filipino workers in Kuwait have reduced by 20.4 percent during this period, while in Bahrain, it reduced by 22.9 percent, Oman 38.3 percent, Saudi Arabia 10.4 percent and Qatar 6.3 percent.

Chairman of the House Committee Chair on Banks and Financial Intermediaries Rep. Henry Ong said the lifting of the ban on deployment of Filipinos to Kuwait last May did not help in stopping the remittance plunge. He stressed the need to change the policy of his country in terms of prioritizing the distribution of workers overseas

 
 Source: arabtimesonline

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