Home Finance Over PHP868 Million in Indemnity Checks Released for Displaced OFWs in Saudi...

Over PHP868 Million in Indemnity Checks Released for Displaced OFWs in Saudi Arabia

President Bongbong Marcos Facebook

MANILA – In a recent announcement, President Ferdinand R. Marcos Jr. revealed that PHP868.74 million in indemnity checks has been released for overseas Filipino workers (OFWs) affected by the bankruptcy of Saudi Arabian construction firms in 2015 and 2016. The news brings hope and relief to thousands of displaced OFWs who have been eagerly awaiting compensation for their losses.

In a video message uploaded on his official Facebook page, President Marcos expressed his desire to inform OFWs from Saudi Arabia that the Saudi government remains committed to paying insurance claims to employees of bankrupt companies. The Overseas Filipino Bank and the Land Bank of the Philippines have already processed a total of 1,104 Alimna Bank indemnity checks, with an impressive amount of PHP868,740,544.

Out of the 1,104 checks, 843 have already been cleared and credited to the accounts of displaced OFWs. This signifies a significant step forward in fulfilling the promise made by Saudi Crown Prince Mohammed bin Salman to allocate approximately 2 billion riyals for the affected OFWs. The Crown Prince’s commitment has instilled a renewed sense of hope among the Filipino workers in Saudi Arabia.

The unfortunate bankruptcy of Saudi Oger Ltd., Mohammad Al Mojil Group, and other construction firms in Saudi Arabia left nearly 13,000 OFWs without employment opportunities. The Department of Migrant Workers (DMW) records indicate that 8,829 claimants are from Saudi Oger, while 3,454 are from Mohammad Al Mojil. These numbers reflect the scale of the crisis faced by Filipino workers in the wake of the company failures.

President Marcos’s announcement of the released indemnity checks marks a significant milestone in the journey towards justice for the affected OFWs. The funds will provide much-needed financial support to the workers and their families, helping them rebuild their lives and secure a brighter future. This development serves as a testament to the enduring commitment of the Saudi government to fulfill its obligations and support those affected by the unfortunate bankruptcy episodes.

As the indemnity checks continue to be processed and disbursed, the Filipino community eagerly awaits further updates on the progress of this initiative. The successful resolution of this issue will not only alleviate the financial burdens faced by the displaced OFWs but also reinforce the strong ties between the Philippines and Saudi Arabia.