TWENTIETH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
SENATE
s. NO. 1270
of tljf Si., riiir^
25 AUG 27 PI :27
RFCEIVED i
Introduced by Senator MARK A. VILLAR
AN ACT
ENHANCING THE FINANCIAL LITERACY OF OVERSEAS FILIPINO
WORKERS (OFWs)
EXPLANATORY NOTE
Financial literacy is defined as the ability to effectively manage, budget, and 
plan the use of financial resources. However, reports indicate that average Filipinos 
lack basic financial literacy and struggle in managing and saving their earnings, which 
leads to vulnerability to financial exploitation.
Overseas Filipino Workers (OFWs), often referred to as our modern-day heroes 
who play a crucial role in sustaining the national economy, are unfortunately 
susceptible to the consequences of financial illiteracy. They often fall victim to 
fraudulent investment schemes and online scams due to insufficient knowledge of 
financial planning and investment principles.
To help our bayanis, this bill mandates the implementation of free and 
accessible financial literacy programs for OFWs. Seminars and training sessions shall 
be provided prior to deployment and upon return to the Philippines. The curriculum 
will focus on personal budgeting, responsible investing, fraud awareness, and long­
term financial planning.
Ultimately, this will equip OFWs with financial knowledge and practical skills 
necessary to reduce their vulnerability to online scams, promote financial 
independence, and empower them to make sustainable financial choices for their well­
being and that of their families.
In view of the foregoing, the passage of this bill is sought.
MARK A. VILLAR


TWENTIETH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
SENATE 
S. No. 1S70
f-, .'C'V'h
of Il)F
25 AUG 27 PI :27
RECEIVED BY:
Introduced by Senator MARK A. VILLAR
AN ACT
ENHANCING THE FINANCIAL LITERACY OF OVERSEAS FILIPINO
WORKERS (OFWs)
Be it enacted by the Senate and House of Representatives of the Philippines in 
Congress assembled:
1 
Section 1. Short Title. - This Act shall be known as the "OFWs Financial Literacy
2 
Enhancement Act"
3 
Sec. 2. Declaration of Policy. - The State recognizes the valuable contributions
4 
of Overseas Filipino Workers (OFWs) to the national economy through their foreign
5 
exchange remittances. As such, the State shall take appropriate measures to protect
6 
and ensure OFWs' financial and economic well-being by promoting and providing
7 
mandatory financial literacy programs that will educate, train and provide them with
8 
necessary knowledge and skills to protect their earnings, resources, investments,
9 
remittances and to manage their debts, credits and other financial transactions.
10 
Sec. 3. Mandatory Financial Literacy Training Seminar. - All OFWs shall undergo
11 
mandatory financial literacy orientation seminars, which shall be an integral part of
12 
the Pre-Departure Orientation Seminar (PDOS). An OFW who enters a new contract
13 
shall likewise be required to undergo Post-Arrival Training Seminars (PATS) on
14 
financial literacy within a reasonable time from their arrival in the country of
15 
destination.


1 
Financial literacy trainings may also be incorporated into Pre-Migration
2 
Orientation Seminars (PMOS), OFW family and children's circles learning sessions, and
3 
other training programs under the Department of Migrant Workers (DMW) and other
4 
relevant agencies mandated to protect the welfare of OFWs.
5 
Sec. 4. Participating Agencies. - The PDOS and PATS shall be primarily
6 
conducted by the DMW, as the lead agency, in coordination with the Department of
7 
Finance (DOF), the Overseas Workers Welfare Administration (OWWA), and
8 
accredited PDOS providers across the country, including the embassies or consulates,
9 
in the country of destination.
10 
As lead agency, the DMW, in coordination with DOF, BangkoSentraiNgPiiipinas
11 
(BSP), OWWA, Department of Information and Communications Technology (DICT)
12 
and Securities and Exchange Commission (SEC), is tasked to formulate training
13 
modules on financial literacy; initiate and conduct training programs on financial
14 
management and responsibility; apprise OFWs on, among others, the advantages and
15 
benefits of financial opportunities; ensure the accessibility of qualified online financial
16 
and economic advisors and/or counselors; and disseminate knowledge-expanding
17 
activities that promote financial literacy among OFWs and their dependents.
18 
Sec. 5. Free Financiai Literacy Training Programs. - Training programs
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undertaken under this Act shall be free of charge.
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The DMW, in coordination with the relevant participating agencies, shall
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educate OFWs on how to protect their earnings, savings, and investments, with
22 
emphasis on how to prioritize savings, manage their income and debts, and use their
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remittances for productive and sustainable purposes to futureproof their hard-earned
24 
money.
25 
Financial literacy programs shall include lectures and discussions on topics such
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as financial planning, saving and budgeting, debt management, financial products,
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such as stocks, bonds, insurance, mutual funds, digital financial literacy, cyber-
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hygiene, data integrity, fraud and scam prevention, financial consumer protection,
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financial patterns, practices and culture of the country of destination, and other topics
30 
which may be deemed relevant by the concerned government agencies.


1 
Sec. 6. Penalties and Administrative Liabilities. - Any unjustifiable refusal by a
2 
government official or personnel tasked under this Act to provide financial literacy
3 
training or seminar shall be punished with a fine of at least Fifty thousand pesos
4 
(Php50,000.00) to One hundred thousand pesos (Phpl00,000.00), without prejudice
5 
to possible administrative sanctions which may be imposed under existing laws,
6 
ranging from reprimand, suspension from office or dismissal from service, depending
7 
on the severity and frequency of such inaction or violation.
8 
Sec. 7. Implementing Rules and Regulations. - Within ninety (90) days from
9 
the approval of this Act, the Secretary of the DMW, in consultation with the Secretary
10 
of the DOF, the Governor of the BSP, the Administrator of OWWA, together with the
11 
heads of other relevant government agencies, shall promulgate the necessary rules
12 
and regulations for the effective implementation of this Act.
13 
Sec. 8. Separability Clause. - If any provision of this Act is held invalid or
14 
unconstitutional, the remaining parts or provisions not affected shall remain in full
15 
force and effect.
16 
Sec. 9. Repealing Clause. - All laws, decrees, executive orders, proclamations,
17 
rules, and regulations, or parts thereof inconsistent with this Act, are hereby repealed
18 
or modified accordingly.
19 
Sec. 10. Effectivity. - This Act shall take effect fifteen (15) days after its
20 
publication in the Official Gazette or in a newspaper of general circulation.
Approved,