Businessmirror april 14, 2018

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OVERSEAS FILIPINO BANK TO START SERVING MODERN-DAY HEROES

The ‘promised’ bank

Filipino workers gather at the HSBC building in the central business district of Hong Kong, China, on Sunday, August 13, 2006. Paul Hilton/Bloomberg News

B

By Rea Cu

arring hitches, the Overseas Filipino Bank (OFB) that will exclusively serve millions of overseas Filipino workers (OFWs), as promised by President Duterte in a campaign speech, will open its doors in the second quarter.

The OFB is currently awaiting approval from the Department of Foreign Affairs (DFA) so it could establish representative offices in various embassies and consulates to promote its products and services to Filipino migrant workers. A wholly owned savings bank subsidiary of the Land Bank of the Philippines, the OFB was created following the signing of Executive Order (EO) 44 approving LandBank’s acquisition of Philippine Postal Savings Bank, which became the Overseas Filipino Bank.

The OFB will offer 15 banking products and services, including time deposit, peso savings, loans, investment products, and remittance services to OFWs and their beneficiaries, among others. OFB President and CEO Renato G. Eje said they are awaiting the green light from the DFA to officially start establishing the bank’s presence in embassies and consulates, with Dubai being eyed as pilot area. “We are waiting for the documents [from DFA]. We hope the

original target date of second quarter will be met. Otherwise, it will be on the third quarter,” Eje told the BusinessMirror. LandBank President and CEO Alex V. Buenaventura said Dubai, Bahrain and Abu Dhabi are being eyed for OFB representative offices, which will be opened within the year. At least two bank representatives will man the OFB offices in Philippine embassies to promote the bank’s products and services. “These representatives will have no banking or commercial

Elmer Dumlao: An artist comes home

W

By Psyche Roxas-Mendoza

hen Elmer Dumlao arrived in Jordan in 1994 at the age of 33, he visualized the best years of his life spent as a creatives man in an advertising agency. But kismet lit another path. And like the desert sand that slowly but surely lays claim to what it covets, Dumlao—in a span of 24 years—realized his heart’s desire: to be a visual artist; his works viewed by kings, queens and other royalty in the Hashemite Kingdom of Jordan. “I was a commercial artist for 12 years and in all that time, I

wanted to be a visual artist. I had already participated in a group exhibit, but still had no one-man show. I was still looking for a break,” Dumlao said. In Jordan, Dumlao started as a creative director for McCann Erickson. Years later, an officemate of his put up an advertising firm and invited him to head its Creatives department.

PESO exchange rates n US 52.0170

Dumlao accepted and between him and his boss, closed some of the biggest accounts in the Middle East. “I launched Coca-Cola and McDonald’s in Jordan. We also had the Royal Jordanian Airlines, and some big banks.” It turned out that his officemate, Al Sheriff Mohammad Alluhayqac, was a distant relative of Jordan’s King Abdullah II. “Al Sheriff is a title. It means ‘family of the Kingdom of Hashemite of Jordan,” Dumlao said, adding, “my boss was asked by the King to work as Chief of the Protocols Office. As a loyal subject, he had to do the King’s bidding. A year later, in 2006, my boss asked me to work for him.”

Expanding horizon

There, Dumlao’s world expanded, far beyond the days when he struggled to get better-paying jobs after

earning his Fine Arts degree at the University of Santo Tomas and in the years since he got married. As the eldest in a brood of four, he had helped his father man their home-based silk-screen factory, while his mother taught in an elementary school. A fresh graduate in 1981, Dumlao got hired as a contractual in the Philippine Refining Co., earning P150 a day, before transferring to Republic Flour Mills (RFM) as a supervisor for outdoor advertising for P7,000 a month. When he got married in 1984, he decided to look for an overseas post, working in Saudi Arabia until he found luck in Jordan. “In 1994 there was still no Internet. What I knew of Jordan I sourced from brochures, which said that the country had churches, cinemas, and that men and women were not segregated, even in buses.

transactions. They will just be promoting and providing information to overseas Filipinos about OFB products and services,” Buenaventura said. Based on the 2016 survey on overseas Filipinos by the Philippine Statistics Authority (PSA) released in May last year, around 2.2 million OFWs worked abroad at anytime during the April-to-September 2016 period. The survey showed that Middle East countries were the top Continued on A2

Jordan was an open society. I liked the country and its four seasons. And now, I had the chance to work in the Palace,” he said. At the Protocol’s office, Dumlao said he exerted himself, taking on jobs that normally would have required three or four people to do. He became the artist, creative director and art director. Still, despite the heavy load, Dumlao managed to find time to paint, sculpt and do visual art. Work commenced from Sunday to Thursday. People went to church on Friday and Sunday was a free day.

His art

Elmer Dumlao with Inborn, mixed media. FERDINAND G. MENDOZA

At the Palace, his title was creative and design supervisor. “I do all designs, from books to medals, even the official flags that the Protocol Office puts out. I also do logos of the military. We worked like an in-house Continued on A2

n japan 0.4847 n UK 74.0202 n HK 6.6266 n CHINA 8.2669 n singapore 39.6380 n australia 40.3340 n EU 64.1318 n SAUDI arabia 13.8712

Source: BSP (April 13, 2018 )


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