Singer Ogie Alcasid is mobbed by fans during his performance at the Pamaskong Handog celebration for the overseas Filipino workers (OFWs) at the SM City Telagastagan. Photo By Joann M. Valenciano
CITY OF SAN FERNANDO — BDO Unibank through its remittance brand, BDO Remit, together with SM Supermalls recently held the Pamaskong Handog celebration for the overseas Filipino workers (OFWs).
Featuring celebrities Ogie Alcasid, Kim Chu and Xian Lim, the event attracted hordes of fans who were mostly family members of OFWs at SM City Telabastagan on Dec. 21.
Now on its eighth year, Pamaskong Handog is a Christmas celebration for OFWs and their families that is organized by BDO and SM Supermalls as a way of giving back and recognizing Filipinos abroad for their trust and loyalty as BDO Kabayan Savings and account holders.
Aside from the annual Pamaskong Handog, BDO Remit is also advocating financial literacy to OFWs.
Genie T. Gloria, BDO Unibank senior vice president and head of remittance, said financial education is an invaluable gift to give the overseas Filipino market and their beneficiaries.
“Raising their financial knowledge should start at the onset, meaning, we teach them what they can do with their hard-earned money by allocating a portion to savings and looking for investments which can serve their long-term goals,” said Gloria.
BDO Remit also visits universities to teach young adults, whose parents may be OFWs, on financial literacy as well as conducting financial education activities in various barangays to orient people of being part of the formal banking system.
“Apart from these efforts, we also continue to participate in the pre-departure orientation seminars done by the Overseas Workers Welfare Administration by helping the departing overseas Filipinos to have a better financial behavior,” she said.
BDO Remit started its financial education advocacy in 2014 with a significant improvement in the savings approach of the OFWs as indicated by the growth in their monthly savings.
“They are saving more now and they know their priorities and goals. For us, the improvement is a testament that this advocacy of ours is working well for them,” noted Gloria.
BDO Remit is the global remittance service brand of BDO Unibank. It currently has two million BDO Kabayan Savings account holders and a total of $30.5 billion cash remittances in 2019 nationwide.
