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                    [ArticleID] => 337544
                    [Title] => Comm’l banks still main conduit for OFW inflows
                    [Summary] => DAVAO CITY – The country’s commercial banks, including several foreign players, remained the main conduit for the remittances of overseas Filipino workers (OFWs), accounting for more than 93.6 percent of all remittances entering the Philippines.


In 2004, the commercial banks accounted for $7.15 billion of the total $8.6-billion remittances that passed through the formal sector. Last year, remittances through the formal sector reached $10.6 billion.


                    [DatePublished] => 2006-05-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] => Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
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MONEY TRANSFER ASSOCIATION

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                    [ArticleID] => 337544
                    [Title] => Comm’l banks still main conduit for OFW inflows
                    [Summary] => DAVAO CITY – The country’s commercial banks, including several foreign players, remained the main conduit for the remittances of overseas Filipino workers (OFWs), accounting for more than 93.6 percent of all remittances entering the Philippines.


In 2004, the commercial banks accounted for $7.15 billion of the total $8.6-billion remittances that passed through the formal sector. Last year, remittances through the formal sector reached $10.6 billion.


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Comm’l banks still main conduit for OFW inflows

By Ted P. Torres | May 20, 2006 - 12:00am

DAVAO CITY – The country’s commercial banks, including several foreign players, remained the main conduit for the remittances of overseas Filipino workers (OFWs), accounting for more than 93.6 percent of...

Business