" We have revised the rules for loans . For those interested to apply , there is no collateral for it because we will be your guarantor . Protect your money and you attend livelihood training so that you re-credited to leave the country ,"
OFW
Rules help OFWs , revised DOLE
C onstitute a new rule , the Department of Labor and Employment ( DOLE ) in relation to the provision of benefits and loans for unemployed workers and napauwing overseas Filipino workers ( OFWs ), according to Secretary Silvestre Bello III .
In recent dialogue with “ napauwing ” workers from Mohammad Al-Mojil Group of Companies in Saudi Arabia pledged to Bello to help the napauwing workers recover unpaid wages and security benefits from their employers .
" Give us only all the proper paperwork and documentation and we assure you that will help the Department of Labor to recover unpaid salary and your benefits . We have also developed a technical working group that will focus rerebisa and the rules and regulations associated with applying for loans , " said Bello .
Approved as a secretary , who acts as chairperson of the OWWA Board , raising the enhanced livelihood assistance given to workers who lose their jobs and deported to the country from P10,000 to P20,000 cash assistance .
The Landbank of the Philippines will also provide loan assistance amounting from P50,000 - P300,000 for OFWs who can provide legitimate collateral such as land title and other items of value in conjunction
" We have revised the rules for loans . For those interested to apply , there is no collateral for it because we will be your guarantor . Protect your money and you attend livelihood training so that you re-credited to leave the country ,"
with the regular interest rate 8 percent .
This led DOLE and OWWA to meet with officials of the Bank to eliminate the other requirement in providing loan assistance for workers who lose their jobs .
DOLE demand to lower the interest rate for the loan OFW from 8 percent to 6 percent and eliminate the collateral requirement for the Department of Labor will be the guarantor for the OFWs .
" We have revised the rules for loans . For those interested to apply , there is no collateral for it because we will be your guarantor . Protect your money and you attend livelihood training so that you re-credited to leave the country , " said Bello .
Said OWWA Administrator Hans Leo Cacdac first-degree relatives such as spouses and children of deceased OFWs and Filipino workers abroad still can process their paperwork and applications for the loan but must complete the paperwork and documentation they have .
" We Isinasapinal rules for loan officers with Landbank . We hope makapagpirmahan a memorandum of understanding with them in June , " he Cacdac .
Earlier , there were 9 companies from the Middle East were closed due to financial crisis and resulted in the unemployment of thousands of workers .
OFWs are repatriated where large numbers of them are workers previously Mohammad Al-Mojil Group . The Department of Foreign Affairs , DOLE , OWWA and is doing everything to help workers to recover unpaid wages and their benefits from their employers .
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