Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Executive urges bank for Filipino migrant workers  Join our daily free Newsletter

MENAFN - Arab News - 07/12/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) A bank for migrant workers should be set up to handle the 35 million welfare fund currently being run by a Philippine government agency, a leading worker leader said.

Jun Aguilar, chief executive officer of the Filipino Migrant Workers Group (FMWG), said the Overseas Workers Welfare Administration (OWWA) currently runs the fund. However, the government does not contribute to the fund and instead earns money from it, he said.
The fund consists of 25 contributions or membership fees of 11 million overseas foreign workers signing up for new contracts. It is intended to provide for their welfare during emergencies, death or disability.
Aguilar said the Philippine government has not contributed any money to the fund since its inception 30 years ago. "If this is not highly irregular, I don't know what is," he said.

He said most of the fund's money, about 27 million, is deposited in government financing institutions. "This is one reason why I'm batting for the establishment of a migrant workers bank," Aguilar said.
Many overseas Filipino workers have welcomed the idea, which Aguilar said he has been pursuing since he left Riyadh 14 years ago.
Aguilar made the suggestion recently during a joint committee hearing attended by concerned Philippine senators including Jinggoy Estrada, Cynthia Villar and Nancy Binay. The meeting also tackled a law to protect the labor rights of hundreds of thousands of Filipino seafarers around the word, and the OWWA Charter.

"This has been my mantra ever since I started attending congressional and senate hearings over a decade ago," he said.
He questioned why the approved budget of the OWWA for 2013 allocates 69.5 percent for staffing, maintenance, operations and other expenses. Aguilar told Arab News that senators Estrada and Villar agreed to tackle the issues in the technical working group.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help