Monday 17 December 2018
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albawaba - 3 month ago

Why Are Filipinos in the Middle East Sending Less Money Back Home?

Cash remittance from Filipino workers (OFW), particularly those in the Middle East, saw a steep decline from January to July this year, figures from the Central Bank of the Philippines (BSP) show. A lawmaker noted that even the lifting of the ban on deployment of Filipinos to Kuwait last May failed to stop the remittance plunge. Based on latest BSP data, there was 15 percent decrease in remittances from OFWs in the Middle East, although fund transfers from Libya and Israel fell the most at 73 percent and 61

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