Senator Mark Villar co-sponsored Senate Bill No. 1917, or the Overseas Filipino Workers Remittance Protection Act, to safeguard the hard-earned money of more than 10 million Filipinos abroad.
Villar cited the crucial role of OFWs in the economy, noting that remittances reached a record $35.63 billion in 2025, equivalent to about 7.3% of GDP.
The measure seeks to regulate remittance fees, strengthen consumer safeguards, ensure transparency in foreign exchange, and mandate financial literacy programs for OFWs and their families.
Villar said the bill will help protect overseas workers from financial scams and poor financial decisions that could wipe out their savings.
He urged swift passage of the measure, stressing that OFWs’ vital contribution to national development deserves strong institutional protection.IMT
