Republic of the Philippines 
House of Representatives 
Quezon City, Metro Manila 
Twentieth Congress 
First Regular Session 
HOUSE BILL NO. 2968 
Introduced by Representatives Ferdinand Martin G. Romualdez, Yedda 
Marie K. Romualdez, Andrew Julian K. Romualdez and Jude A. Acidre 
AN ACT 
PROVIDING FOR A FREE FINANCIAL EDUCATION TO OVERSEAS 
FILIPINO WORKERS AND THEIR FAMILIES 
EXPLANATORY NOTE 
Section 18 of Article II of the 1987 Constitution affirms that labor is a 
primary social economic force and guarantees that the rights of workers are 
protected and their welfare promoted. In addition, Section 3 of Article XIII of the 
same Constitution ensures full protection to labor, both local and overseas. 
To advance the welfare of overseas Filipino workers (OFWs) and their 
families, the government must equip them with the appropriate and necessary 
financial knowledge and resources to protect, manage, and sustain the hard-
earned gains of their labor abroad and to obtain more competencies, especially in 
this digital age, ultimately achieving financial freedom. Thus, this proposed bill 
underscores the importance of institutionalizing comprehensive financial 
education programs as a core component of migrant support services. 
Financial education is the systematic process of teaching and learning to 
acquire financial concepts and principles thereby improving one's ability to make 
better decisions about managing their finances. For OFWs, this means learning 
how to 1) effectively handle their remittances from prioritizing essentials, saving 
for future needs, to investing for growth; 2) make informed financial decisions to 
prevent financial mismanagement and to protect them against scams and frauds; 
and, 3) prepare for long-term financial security. 
August 4, 2025
5:00 pm


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Several government initiatives are already in place to enhance financial 
literacy among migrant workers. The Department of Migrant Workers (DMW) 
and the Department of Finance (DOF) have recently launched a nationwide 
financial literacy campaign by signing a partnership, aligning their agencies with 
President Ferdinand R. Marcos Jr.’s call to provide stronger support for Filipino 
migrant workers.1 
The Overseas Workers Welfare Administration (OWWA), in partnership 
with the BDO Foundation and Bangko Sentral ng Pilipinas (BSP), has the 
Pinansyal na Talino at Kaalaman, or “PiTaKa,” program integrated in their Pre-
Departure Orientation Seminars; this program educates OFWs and their families 
on managing remittances, building savings, making investments, and starting 
their businesses.2 
The Land Bank of the Philippines, through its subsidiary, Overseas Filipino 
Bank (OFBank), also provides banking services that cater to the specific needs of 
OFWs, like digital banking solutions that let OFWs avail of loans and bill 
payment services, as well as manage their accounts regardless of their 
geographical position.3 
The BSP likewise advocates for financial inclusion through access to 
transaction accounts, such as Basic Deposit Accounts and e-money wallets, to 
encourage account-based remittance transfers. It has also expanded access to low-
cost touchpoints, enabling the unbanked in remote areas to reach them through 
agent networks (e.g., cash agents, e-money agents, and remittance sub-agents). 
However, the Philippine Institute for Development Studies (PIDS) pointed 
out the need for better promotion of these programs and services. Furthermore, 
despite remittances providing OFW families increased incomes, this does not 
necessarily translate into efficient management of household finances.4 
To address this, the proposed measure aims to provide free financial 
education and literacy programs to OFWs and their families, teaching and 
training them on how to use their hard-earned money wisely and effectively. This 
approach to reintegration support is not only an investment in their well-being but 
also a repayment to these modern-day heroes for their contributions to the 
Philippines' continued economic growth and prosperity. 
1 https://www.pna.gov.ph/articles/1251925 
2 https://www.bsp.gov.ph/Inclusive%20Finance/Tools/PiTaKa_trainers_manual.pdf 
3 https://www.rappler.com/philippines/overseas-filipinos/ofws-want-wiser-money-management-financial-
literacy-programs-not-reaching/ 
4 https://pidswebs.pids.gov.ph/CDN/document/pidsdps2317.pdf 


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Patterned after the approved Third Reading version of the measure filed 
during the 19th Congress, this bill proposes the following: 
•
Free Mandatory Financial Seminar. Mandates that the OFWs and
their families be provided with a mandatory and continuous financial
program that is free-of-charge which will be integrated in their
Departure Orientation Seminars (PDOS) and Post-Arrival Training
Seminars (PATS) (Sec. 4).
•
Participating Agencies. Mandates the DMW to primarily conduct the
training and seminars in coordination with the OWWA, the DOF, the
BSP, the Department of the Interior and Local Government as well as
the accredited PDOS providers, embassies or consulates in the countries
of destination (Sec. 5).
Thus, the passage of this measure is urgently requested. 
FERDINAND MARTIN G. ROMUALDEZ 
YEDDA MARIE K. ROMUALDEZ 
ANDREW JULIAN K.  ROMUALDEZ 
JUDE A. ACIDRE 


Republic of the Philippines 
House of Representatives 
Quezon City, Metro Manila 
Twentieth Congress 
First Regular Session 
HOUSE BILL NO. 2968 
Introduced by Representatives Ferdinand Martin G. Romualdez, Yedda 
Marie K. Romualdez, Andrew Julian K. Romualdez and Jude A. Acidre 
AN ACT 
PROVIDING FOR A FREE FINANCIAL EDUCATION TO OVERSEAS 
FILIPINO WORKERS AND THEIR FAMILIES 
Be it enacted by the Senate and House of Representatives of the Philippines 
in Congress  assembled: 
SECTION 1. Short Title. – This Act shall be known as the “Free OFW 
Financial Education Act.” 
SECTION 2. Declaration of Policy. – It is hereby declared the policy of 
the State to afford full protection to labor - local and overseas - and promote full 
employment and equality of employment opportunities for all. 
The State shall have the continuous duty to acknowledge the valuable 
contribution of Overseas Filipino Workers (OFWs) to our economy through their 
remittances. In doing so, the State shall adopt measures that will take care of the 
welfare and benefits of OFWs and their families like the provision for a free 
financial education or literacy training to equip them with enough knowledge for 
a proper and wise use of their hard-earned money. 


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SECTION 3. Coverage. – This Act shall cover all OFWs, either land-
based or sea-based, documented or otherwise, and their families. 
 
SECTION 4. Mandatory Financial Education Seminar. – All OFWs 
shall undergo mandatory and continuously updated financial education or literacy 
training seminars which shall become an integral part of the Pre-Departure 
Orientation Seminars (PDOS) of departing OFWs. Moreover, Post-Arrival 
Training Seminars (PATS) on financial education or literacy shall likewise be 
required of OFWs within a reasonable time upon arrival in their respective 
countries of destination on their first employment contract, or those who transfer 
from one place of work to another without stopping by the Philippines. Overseas 
Filipino Seafarers shall have the option of attending these continuously updated 
financial education or literacy training seminars at their respective points-of-hire, 
or within a reasonable time, after their return to the Philippines.   
Families of OFWs throughout the Philippines shall likewise be equipped 
with financial education and knowledge through on-line seminars and other 
feasible and effective means. 
 
SECTION 5. Participating Agencies. – The PDOS and PATS shall be 
primarily conducted by the Department of Migrant Workers (DMW), as the lead 
agency, in coordination with the Overseas Workers Welfare Administration 
(OWWA), the Department of Finance (DOF), the Bangko Sentral ng Pilipinas 
(BSP), the Department of the Interior and Local Government (DILG) and all the 
barangays under it, and the accredited PDOS providers across the country, 
including the embassies or consulates, whichever may be available, in the 
countries of destination. 


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As the lead agency, the DMW is tasked to formulate training modules on 
financial education or literacy, initiate and conduct training programs on financial 
management and responsibility; apprise OFWs on financial opportunities and 
pitfalls, among others; ensure the accessibility of qualified online financial and 
economic advisors and/or counselors; and disseminate knowledge-expanding 
activities that promote financial education or literacy among OFWs and their 
dependents. 
 
SECTION 6. Free Financial Education Programs. – Financial education 
or literacy training programs undertaken under this Act shall be free-of-charge. 
The DMW shall, in coordination with the OWWA, the DOF, and the BSP, 
educate the OFWs and their families on the following financial subjects, issues 
or programs: Consumer Protection, Protection on Mortgaged or Collateralized 
Properties, Avoidance of Exorbitant Interests on Loans or Debts, and Credit 
Information on Micro- and Small-Scale Enterprises to prospective lenders. 
Financial education shall also include information on Obligations and 
Contracts, Credit Transactions, Interests, Pledges, Mortgages, Guarantees, and 
Knowledge on Financial Products such as stocks, bonds, insurance, and mutual 
funds, which are available in the market.   
The DMW shall regularly coordinate with the Department of Information 
and Communications Technology and social media companies to disallow posts 
and messages that are meant to confuse, mislead, victimize, defraud or entice 
OFWs and their families to engage in gambling and other similar activities, 
including on-line scams, pyramiding schemes, and the like. 
 
SECTION 7. Implementing Rules and Regulations. – Within ninety (90) 
days from the approval of this Act, the Secretary of the DMW shall, in 
consultation with the Administrator of the OWWA, the Secretary of the DOF, the 


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Governor of the BSP, and the Secretary of the DILG, promulgate the necessary 
rules and regulations for the effective implementation of this Act. 
 
SECTION 8. Repealing Clause. – All laws, decrees, executive orders, 
issuances, rules and regulations which may be inconsistent with any of the 
provisions of this Act are hereby deemed repealed, amended or modified 
accordingly. 
 
 SECTION 9. Separability Clause. – If any provision of this Act is held 
unconstitutional or invalid, such holding shall not affect other provisions not 
affected thereby.  
 
 SECTION 10. Effectivity. – This Act shall take effect fifteen (15) days 
after its publication in the Official Gazette or in a newspaper of general 
circulation. 
 
Approved,