Sen. Robin Seeks Review of OFBank and Land Bank 'Merger'
January 20, 2025
Sen. Robin Seeks Review of OFBank and Land Bank 'Merger'
Sen. Robinhood "Robin" C. Padilla is seeking a review of a plan to merge the operations of the Overseas Filipino Bank (OFBank) and Land Bank of the Philippines, noting the different mandates of the two entities.
Padilla filed on Monday Senate Resolution 1281, urging the appropriate government agencies to review and reassess such a proposal, citing the need for independent entities for overseas Filipinos and farmers.
"The implications of this proposal must be thoroughly reviewed by relevant agencies, including but not limited to the Department of Finance, Governance Commission for Government-Owned or Controlled Corporations, Bangko Sentral ng Pilipinas, Department of Migrant Workers, and Overseas Workers Welfare Administration," he said in his resolution.
Padilla's resolution stemmed from a proposal to merge OFBank with Land Bank, which was reportedly affirmed by the DOF during a meeting on April 25 last year.
"It must be noted that Land Bank's primary mandate is to provide financial assistance and support services to its mandated and priority sectors, which include Small Farmers and Fishers, Agrarian Reform Beneficiaries, among others," he added.
On the other hand, he said OFWs have unique banking needs and may need a "specialized financial institution tailored to address their specific requirements."
Sen. Robin, Nais, I-Review ang 'Merger' ng OFBank at Land Bank
Nais i-review ni Sen. Robinhood "Robin" C. Padilla ang planong i-merge ang Overseas Filipino Bank (OFBank) at Land Bank of the Philippines, sa kabila ng magkaibang mandato ng dalawang ahensya.
Ihinain ni Padilla nitong Lunes ang Senate Resolution 1281, na humihimok sa karampatang ahensya na i-review at i-reassess ang ganitong panukala, dahil kailangan ang independiyenteng ahensya para sa overseas Filipinos at magsasaka.
"The implications of this proposal must be thoroughly reviewed by relevant agencies, including but not limited to the Department of Finance, Governance Commission for Government-Owned or Controlled Corporations, Bangko Sentral ng Pilipinas, Department of Migrant Workers, and Overseas Workers Welfare Administration," aniya sa kanyang resolusyon.
Ang resolusyon ni Padilla ay base sa panukalang i-merge ang OFBank at Land Bank, na diumano'y sinuportahan ng DOF noong Abril 25, 2024.
"It must be noted that Land Bank's primary mandate is to provide financial assistance and support services to its mandated and priority sectors, which include Small Farmers and Fishers, Agrarian Reform Beneficiaries, among others," aniya.
Ayon din kay Padilla, ang mga OFWs ay may kakaibang sitwasyon kung kaya kailangan ang "specialized financial institution" para tugunan ang kanilang pangangailangan.
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