Bill Type
Congress Name
Long Title
AN ACT PROVIDING FOR THE ESTABLISHMENT OF THE OVERSEAS FILIPINO BANK AND FOR OTHER PURPOSES
Date filed
July 17, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 1080, 12th Congress of the Republic | |
| FULL TITLE : AN ACT PROVIDING FOR THE ESTABLISHMENT OF THE OVERSEAS FILIPINO BANK AND FOR OTHER PURPOSES | |
| ABSTRACT : The purposes in establishing the Overseas Filipino Bank are: (1) To encourage the overseas Filipinos to remit foreign earnings through the bank system; (2) To assist the overseas workers in providing for the efficientg channels in the remittance oftheir earnings from their foreign work stations to their local beneficiaries in the Philippines; and (3) To encourage savings among the overseas Filipino workers and their families from their earnings abroad, and at the same time extend credit facilities to them. | |
| PRINCIPAL AUTHOR/S : LOPEZ, JAIME C. | |
| DATE FILED : 2001-07-17 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. De Venecia | 2. Nograles |
| 3. Espino | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Lapus (006 ) | 2. Syjuco (041 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-07-25 |
Abstract
The purposes in establishing the Overseas Filipino Bank are: (1) To encourage the overseas Filipinos to remit foreign earnings through the bank system; (2) To assist the overseas workers in providing for the efficientg channels in the remittance oftheir earnings from their foreign work stations to their local beneficiaries in the Philippines; and (3) To encourage savings among the overseas Filipino workers and their families from their earnings abroad, and at the same time extend credit facilities to them.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.