Manila, Feb. 7 -- KABAYAN Partylist Rep. Ron Salo has filed a measure seeking to institutionalize the Overseas Filipino Bank (OFBank) to provide a comprehensive solution to the financial needs of Filipinos working and living abroad.

Filed on Feb. 4, House Bill No. 11424, or the Overseas Filipino Bank Act, seeks to establish OFBank as the nation's primary digital bank for overseas Filipinos (OFs) and their families.

In pushing for the passage of the measure, Salo noted that despite the significant economic contributions of OFs, they face challenges in accessing efficient, secure, and affordable banking services.

"It's crucial that we harness the power of digital banking to provide overseas Filipinos with seamless, secure financial servi...