The Philippine Stock Exchange, Inc. (PSE) and the Department of Migrant Workers (DMW) signed a Memorandum of Understanding (MOU) to collaborate in financial literacy initiatives for Overseas Filipino Workers (OFWs).
The MOU covers the conduct of learning sessions for OFWs and their families as well as development of materials intended for migrant workers. An online community will also be created to facilitate the communication with OFWs.
PSE President and CEO Ramon S. Monzon said, “Investor education is a core advocacy for the PSE that stems from our mission to promote sustainable and inclusive economic growth. This Project is aligned with the PSE’s core strategy to improve liquidity and increase market depth by boosting retail participation in the local capital market.”
“PSE intends to complement DMW’s reintegration roadmap by educating OFWs and their families about personal finance and the fundamentals of investing in the stock market; and by equipping them with relevant information to protect themselves against investment scams,” Mr. Monzon added.
He also expressed optimism that the partnership with DMW will help grow the OFW investor count, which was only 5.6 percent of the 1.68 million retail investor accounts as of 2022.
Photo 1 (from left): DMW Assistant Secretary for Reintegration Venecio V. Legaspi; DMW Officer-in-Charge Undersecretary Atty. Hans Leo J. Cacdac, PSE President and CEO Ramon S. Monzon and PSE COO Atty. Roel A. Refran
Photo 2 (from left): DMW Assistant Secretary for Reintegration Venecio V. Legaspi, SEC Commissioner Karlo S. Bello, DMW OIC Undersecretary Atty. Hans Leo J. Cacdac, PSE President and CEO Ramon S. Monzon, PSE COO Atty. Roel A. Refran and SEC Markets and Securities Regulation Department Director Oliver O. Leonardo
Photo 3 (from left): DMW Assistant Secretary for Reintegration Venecio V. Legaspi, DMW OIC Undersecretary Atty. Hans Leo J. Cacdac, SEC Commissioner Karlo S. Bello, SEC Markets and Securities Regulation Department Director Oliver O. Leonardo, PSE President and CEO Ramon S. Monzon and PSE COO Atty. Roel A. Refran
