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Banker: T-bills are safe investments for OFWs

Posted by Mai on August 31st, 2007

Banker: T-bills are safe investments for OFWs

To take advantage of the increasing remittances from abroad, the Philippine National Bank (PNB) has offered various investment products, such as government Treasury Bills, to overseas Filipino workers (OFWs) in Saudi Arabia.

In a symposium in Jeddah on August 24, PNB officials based in the Kingdom of Saudi Arabia, assured OFWs that investment in T-bills is safe because the Philippine government is the guarantor, Jeddah-based Arab News reported in its online edition on Wednesday.

“T-bills are highest yielding, risk-free investment instrument and are fully and unconditionally guaranteed by the government through the Bangko Sentral ng Pilipinas (BSP),” explained
Modesto F. de Guzman, head of the PNB in the Kingdom’s Eastern Province.

The BSP has authorized the PNB to sell T-bills in the Middle East.

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