A banking executive’s advice on turning remittances into long-term wealth is at the center of a new government-backed financial literacy push targeting the millions of Filipinos living permanently abroad.
Rizal Commercial Banking Corporation Vice President Bon Urven P. Dampor joined the Commission on Filipinos Overseas in a video interview under the agency’s Peso Sense Vlog Series, walking overseas Filipinos through investment strategies designed to weather inflation and unstable currency markets.
“Informed investing helps overseas Filipinos grow their income and contribute to development,” Dampor said, outlining how migrant families can explore financial instruments that hold value even during periods of economic turbulence.
The CFO, whose mandate centers on permanent migrants rather than temporary workers, frames the effort as part of a broader shift in how it engages the diaspora. Rather than treating the estimated six million Filipinos settled overseas purely as a source of monthly transfers, the agency is pushing a model that positions them as potential investors and drivers of domestic economic growth.
The partnership with RCBC is aimed at breaking what officials describe as a cycle in which remittances are quickly absorbed by day-to-day household spending. Through joint initiatives highlighted in the interview, the CFO and the bank are working to equip both migrants and their families in the Philippines with the tools to manage and grow their finances independently.
The Peso Sense series, distributed through the CFO’s official Facebook page, is designed to reach Filipino communities across different countries, offering guidance that the agency says aligns with international standards in diaspora economic engagement.
