Around 200 Filipino seafarers participated in the kickoff session of the Financial Literacy Webinar Program hosted by the MARINO Party-list, Overseas Filipino Bank, and ALMA Maritime Group on Wednesday, Oct. 26, the aim of which is to help seafarers handle their finances and retire comfortably.
The programs aims to guide seamen in correctly managing their salaries and compensations while onboard ships, thus allowing them to start saving up for the future.
It was carried out in response to concerns during the Covid-19 pandemic when many Filipino seafarers lost their jobs and had to go home, only to find themselves without savings and sources of income.
MARINO Party-list Rep. Sandro Gonzalez underscored the importance of the financial literacy program since seafarers will not be working forever.
"MARINO's intention is to strengthen the capacity of our seafarers when it comes to budgeting, saving, and investing. No one will be working as a seaman forever, and it is best that they continue to be financially equipped while on-board and as soon as they retire as seafarers," he said in a statement.
The Overseas Filipino Bank, the government-owned, digital-only bank that MARINO went into partnership with for the program, prepared four modules for the session.
According to Gonzalez’s office, the webinar includes topics, such as the basics of saving and budgeting, digital banking and online safety, basics of investing, and OFW reintegration program.
This will run from October to December.
"Our program is also timely as online scams are rampant recently and we want our men of the sea to be more aware in detecting these scams for they are one of the most targeted sectors," the lawmaker added.
Financial literacy program is one of the priority areas of MARINO Party-list and this is the second time it sponsored online webinar sessions for the seafarers with the Overseas Filipino Bank.
"Saludo kami sa ating mga seaman na sabik at aktibong sumasali sa ating mga programa. Isa lamang ito sa ating mga handog na mga programa sa mga Marinong Pilipino at naniniwala kami na malaki ang maitutulong nito para sa kanilang kinabukasan (We salute our seamen who are eager and actively participate in our programs. This is just one of our program offerings for Filipino mariners and we believe that this will greatly help their future,” Gonzalez said.