Global Forum on Migration and Development
Published on the Global Forum on Migration and Development Web Portal (https://www.gfmd.org)


Date Shared: 
Wednesday, October 3, 2018 - 16:03
Title: 

National Remittance Plan (Philippines)

Countries and areas: 
Philippines
Thematic Area: 
Remittances
Tags: 
Remittances, Diaspora Investment and Entrepreneurship
Summary: 

The Philippine Development Plan (2011–2016) explicitly noted the need to promote financial inclusion and facilitate remittances domestically and from abroad. 

In order to assist overseas Filipinos on their remittance and investment concerns, The national Central Bank (BSP) has created an interactive portal that will link users to information on the different banks and non-bank remittance companies in the Philippines, including locations of their branches abroad, remittance center, foreign bank/correspondents, products and services, and charges/fees for remittance services to any part of the Philippines. 

In 2017, the Department of Finance (DOF) and the Land Bank of the Philippines have created a new Overseas Filipino Bank (OFB) to offer expat workers investments, and provide financial advisory services.

The Government of Philippines is also very active with its Diaspora to Development Initiative (D2D), LINKAPIL, the Overseas Filipinos Remittances for Development Project and the Remittance for Development Council. 

 

GFMD Source: 

GFMD 2018 - Background Paper RT Session 3.2 "Beyond Remittances: leveraging the development impact and promoting the transnational engagement of diaspora and migrants"

Link: 

For more inforrmation:

  • https://www.officialgazette.gov.ph/section/historical-papers-documents/p...
  • ...

Source (retrieved on 04/13/2026 - 03:35): https://www.gfmd.org/pfp/ppd/10354