In my desire to be transparent to our kababayang OFWs, I have posted below some excerpts of the email exchanges between some of us here in reference to the setting up of an OFW BANK, with the indulgence of our kababayans who sent them.
From Andy P. of New Zealand:
“Ako po ay nalulugod at humahanga sa inyong adhikain na makapaglunsad ng isang banko na makakatulong sa ating mga kababayang Pilipino. Nabasa ko po ang inyong website at nakita ko ang determinasyon ninyo na maisulong ang ideya ng OFW Bank. Tama po kayo na marami na ang nagtangka pero wala pang nagtagumpay na makapagtayo ng isang matatawag na OFW Bank. Hindi po ‘yun maaaring dahilan na dapat kayong umatras sa laban dahil lahat ng sumuong sa laban na ‘yan ay natatalo laman. Dapat din po nating suriin ang mga kadahilanan kung bakit hindi sila nagtagumpay at kung ano ang kanilang motibasyon sa pagtatayo ng banko. Sa kadahilanang marami ang kokontra o kaya e negatibo ang pananaw, doon mo makikita at makikilala na marami pa rin sa ating mga Pilipino ang hindi bukas sa mga ganyang ideya. Maaring sa kadahilanan na maaaring likas o kaya ay hinubog ng panahon sa pagka-sadlak sa pamamahalang bulok at puno ng korupsyon. Hindi natin maaalis sa kanila ‘yun. Subalit ako’y natutuwa sa kadahilanang maraming mga Pilipino ang nagbigay ng komento sa inyong website at sa gmanews.tv ang bukas sa ideyang eto. At ako ay kaisa ninyo sa adhikaing ito at handa po akong tumulong sa abot ng aking makakaya. Isa din eto sa aking pinangarap na makapag-ambag sa ikakasulong ng pamilyang Pilipino.
Ako ay lubos na natuwa ng mabasa ko ang inyong ideya para sa isang “Foreign Retirees in the Philippines” type of business sa kadahilanang ganitong konsepto din ang aking pinag-iisipan nung andyan pa ako sa Pilipinas. Nagsimula ang ideyang ‘yun ng makita ko ang nagdadamihang mga Koreano na nag-aaral diyan sa atin sa Pilipinas. Habang nag-aaral yung kanilang mga anak or kamag-anak ay kasama nila yung kanilang mga retirees na kamag-anak. Actually, marami na ding mga foreign nationals ang nakakita ng mga potentials na ‘yan at nagse-setup sila ng schools at mga communities as a business. Nakakatuwang isipin that I’ve met someone with the same wave length ika nga…
On your idea of the real estate business, I’m all sold out in that idea as I’ve done it several times already with all of them generating positive results (hindi naman po sa pagmamayabang). Ika nga, walang lugi sa real-estate basta tama ang iyong strategy at management.
Nabasa ko na kelangan nyo ng tulong sa inyong website. Maari ko po kayong tulungan sa aspetong ‘yan kahit sa konting paraan. Pwede po nating umpisahan sa content na muna then tsaka na lang po natin pagandahin yung design or aesthetics. May naiisip na po ba kayong domain name na gusto nyong ipangalan para po sarili nyo na yung domain?…. Pwede pong http://www.ofwbankincubator.com... Pwede ko na pong sagutin yung domain registration… J… Sabihin nyo lang po kung ano po ang requirement ninyo… Maari po akong makatulong sa inyo sa larangan ng IT at kahit konti sa banking industry.g
Siyanga po pala, ako po si Andy P. Kasalukuyan po akong nandito sa bansa ng New Zealand kasama ang aking buong pamilya (ang aking maybahay at apat na anak). Magda-dalawang taon na rin kami dito pero maalab pa rin ang aming pagmamahal sa bayan at patuloy sa panalangin na sana ay umusad na ng tuluyan ang ating kalagayan at kahit paano ay maibsan ang exodus ng mga Pilipino....Ipagpatuloy nyo ang simulating ito. Kaisa nyo po kami.. Mabuhay po kayo Makabayang Pilipino!”
My reply to Andy P. of New Zealand:
(Andy P. is working in a big bank in New Zealand)
“Finally I have company in you. Many liked this idea and it really went around so fast, a lot wants to see it done already but you are (one of) the first one who volunteered to help, and help big!…
And thank you for your offer to cover the cost of the domain. I will contact you when we get there, but at this point I want to make use of the free media po muna because people mostly are averse when you mention about (the cost of) operating a website domain. And I will be consulting you about IT concerns for the website later. You just don't know how much you have inspired me today to pursue this dream.
It's nice to know that you are a banker, because I'm not, I only have some limited understanding about banking and finance because I am a civil engineer by profession and I'm into real estate too.
Kaya kung pwede po sana makiusap po ako sa inyo to help me, if you can be the watchful eye over my shoulders, so that whenever you see something in the website that is not perfectly aligned with the actual banking practice and principles please correct me po kaagad so I can also make things right.
Please bear with me if one of these days you will receive emails from me pleading for some of your inputs.”
It's nice to know that you are a banker, because I'm not, I only have some limited understanding about banking and finance because I am a civil engineer by profession and I'm into real estate too.
Kaya kung pwede po sana makiusap po ako sa inyo to help me, if you can be the watchful eye over my shoulders, so that whenever you see something in the website that is not perfectly aligned with the actual banking practice and principles please correct me po kaagad so I can also make things right.
Please bear with me if one of these days you will receive emails from me pleading for some of your inputs.”
From Andy P. of New Zealand:
“Looking at your grand idea of an OFW bank, the capitalization strategy and the business plan are pretty much aligned to how it’s being done in the real world with just some refinements required along the process. Since this is more or less an initial draft or proto-type of the bigger things to come, refinements and changes will surely come its way. Kahit na nga naka-blueprint na ‘yung plano eh binabago pa din and that should be alright. I’ll be very glad to help in this refinement process and I don’t mind if you’ll be sending emails asking inputs on certain things where you think I could be of help.
I could relate well on what you’re trying to do maybe because we have the same academic orientation. I’m also an engineer (computer eng’g) pero nalinya sa information technology at banking industry. Medyo malawak ang banking business and most of them are covered under the commercial bank license; which is unlike thrift banks, rural banks or savings bank which had limited coverage. I always liked the idea of thinking big, as in BIG. Talagang mahirap kumawala sa “rat-race” kapag ang tao eh nandun pa din sa tinatawag nilang “scarcity mindset”. It’s never wrong to think ‘rich’ and to dream big, basta palagi pa rin tayong nakaapak sa lupa at tumitingin sa tinatawag nilang ‘reality-check’.
For example, even if there are 1.5M OFWs, sa marketing plan we would always consider the ‘take-up’ rate and acceleration. Ika nga eh, meron kang 1.5M na population, pero ilang porsyento diyan ang sa 1st stage eh sasali na kaagad, then sa 2nd stage, then 3rd…. Then yung period between those stages eh kelangan nating i-compute kung ano yung acceleration rate ng mga nagre-respond… Acceleration, meaning gaano katagal at gaano kadami ang sumasali sa loob ng panahon na ‘yun… At sa business plan, are you considering all the 3 stages as part of the initial capitalization (capital build-up) or yun lang 1st stage…
Medyo madaming detalye, pero tuloy lang tayo dahil dadaanan din naman ‘yan habang nere-refine yung business plan. Kasama ‘yan sa process. Para din ‘yang building na habang ginagawa mo ‘yung plano eh marami pa ring binabago hanggang makuha mo yung tamang design, tatag at ganda na gusto nyo…”
My reply to Andy P. of New Zealand:
“Thanks for the inputs especially about your ideas about the take-up rate and acceleration rate. I am still in the process of looking for some hard statistical data on which to base my estimates so that the assumptions that will be drawn up will approximate the general reality…
…I want to help them see the big picture first, and help them prepare…, meaning be ready with their savings because their real commitment to this vision is by way of how soon they start to save something monthly so that when the call time is up they are ready with the capital to invest.
Personally, I would rather that we start with a smaller number, say a mere 1% of the 1.5M OFWs, because if this initial group of 15,000 OFWs will save P16,700 every month that's P3B in a year which is enough to put up an OFW Commercial Bank. And once this is up and making money, I think it will be a lot easier to get the others to join and invest.
But the disadvantage for the late comers is the higher value per share because whatever retained income after every year of operation gets added to the equity side, so pag nahuling sumali ang mga OFWs working as househelps in Hongkong for example mas mahal na po ang bili nila ng shares of stocks nila kaya mas preferred ko po sana na we can get a wider investor base.
Putting up the blogsite is really my contribution to sell the OFW Bank idea first to as many OFWs as possible at pag madami na po ang nagkagusto at sumusuporta po dito then that's the time na we go to the second phase of formal registration process, etc.
I want po sana to do a survey where they can create their own personal service accounts and indicate their pseudonyms, email address and how much capital can they commit say by end of 2011 at mag-appear sa website how much total amount is pledged by how many OFWs.
Then they can visit their virtual account in the site monthly and update how much money they have actually saved in their real savings accounts at mag-appear din po doon sa website ang total amount actually saved.
This will encourage others when they see in graphical form how much money is being pledged as investments to the OFW Bank and how many OFWs have committed. And on top of that they should also see how much money is ACTUALLY saved with running total per month versus what was pledged and how many OFWs who pledged to invest are actually saving.
Because with that we can really see if majority of those who support the idea of an OFW Bank are really into it heart, body and soul dahil karamihan po kasi ay madaling ma-excite na mangarap lalo na po pag nakaamoy ng magandang idea tulad nito ngunit pagdating sa actual ay wala pala.
Baka may maitulong po kayo kung paano po yun ma-incorporate sa website. That data will also guide me when to formally present this to GMA Network to help us gain more ground globally and also bring this up to the possible personalities who might be willing and whom we see can really help us to be part of our Board of Trustees and possible bank executives.
I cannot just go to them and just talk about this dream, they will ask for some facts. Pag meron akong hawak na ganoong data, I think it will be easier for us to convince them to help and support us.
It's good to know that VP Binay is also espousing the same dream of having an OFW Bank pero allergic po ako pag may government presence dahil parang ang maging dulo kaagad noon ay malulugi lang dahil kelan ba naging magaling magpatakbo ang mga Board of Directors na political appointees, at ang plano pa nila ay bibilhin na lang ang Postal Bank at yun ang maging start ng OFW Bank, ibig sabihin po ay gagamitin lang nila ang pera ng OFWs to buyout that ailing bank from government control pero government appointees ang magpapatakbo, naku delikado po yun at doon ako takot dahil sayang lang ang pera ng OFWs. Okey lang po sana kung kumikita yung banko na yun and government participation will just be limited to organizing and collecting the investment through a trust fund and invest this fund in Treasury Bills while the SEC & BSP approvals are being worked out, but the owners should be 100% OFWs.”
…I want to help them see the big picture first, and help them prepare…, meaning be ready with their savings because their real commitment to this vision is by way of how soon they start to save something monthly so that when the call time is up they are ready with the capital to invest.
Personally, I would rather that we start with a smaller number, say a mere 1% of the 1.5M OFWs, because if this initial group of 15,000 OFWs will save P16,700 every month that's P3B in a year which is enough to put up an OFW Commercial Bank. And once this is up and making money, I think it will be a lot easier to get the others to join and invest.
But the disadvantage for the late comers is the higher value per share because whatever retained income after every year of operation gets added to the equity side, so pag nahuling sumali ang mga OFWs working as househelps in Hongkong for example mas mahal na po ang bili nila ng shares of stocks nila kaya mas preferred ko po sana na we can get a wider investor base.
Putting up the blogsite is really my contribution to sell the OFW Bank idea first to as many OFWs as possible at pag madami na po ang nagkagusto at sumusuporta po dito then that's the time na we go to the second phase of formal registration process, etc.
I want po sana to do a survey where they can create their own personal service accounts and indicate their pseudonyms, email address and how much capital can they commit say by end of 2011 at mag-appear sa website how much total amount is pledged by how many OFWs.
Then they can visit their virtual account in the site monthly and update how much money they have actually saved in their real savings accounts at mag-appear din po doon sa website ang total amount actually saved.
This will encourage others when they see in graphical form how much money is being pledged as investments to the OFW Bank and how many OFWs have committed. And on top of that they should also see how much money is ACTUALLY saved with running total per month versus what was pledged and how many OFWs who pledged to invest are actually saving.
Because with that we can really see if majority of those who support the idea of an OFW Bank are really into it heart, body and soul dahil karamihan po kasi ay madaling ma-excite na mangarap lalo na po pag nakaamoy ng magandang idea tulad nito ngunit pagdating sa actual ay wala pala.
Baka may maitulong po kayo kung paano po yun ma-incorporate sa website. That data will also guide me when to formally present this to GMA Network to help us gain more ground globally and also bring this up to the possible personalities who might be willing and whom we see can really help us to be part of our Board of Trustees and possible bank executives.
I cannot just go to them and just talk about this dream, they will ask for some facts. Pag meron akong hawak na ganoong data, I think it will be easier for us to convince them to help and support us.
It's good to know that VP Binay is also espousing the same dream of having an OFW Bank pero allergic po ako pag may government presence dahil parang ang maging dulo kaagad noon ay malulugi lang dahil kelan ba naging magaling magpatakbo ang mga Board of Directors na political appointees, at ang plano pa nila ay bibilhin na lang ang Postal Bank at yun ang maging start ng OFW Bank, ibig sabihin po ay gagamitin lang nila ang pera ng OFWs to buyout that ailing bank from government control pero government appointees ang magpapatakbo, naku delikado po yun at doon ako takot dahil sayang lang ang pera ng OFWs. Okey lang po sana kung kumikita yung banko na yun and government participation will just be limited to organizing and collecting the investment through a trust fund and invest this fund in Treasury Bills while the SEC & BSP approvals are being worked out, but the owners should be 100% OFWs.”
From jappet21 of UK:
“Magandang araw po! Bumisita din ako kanina lang (8:30am UK…, as i have mentioned may mga naka-usap na ko na mga kasama dito at karamihan nga positibo sa ideya. Di ko pa nai-papasa yung web link ng blogspot mo dahil nasa night shifts ako for this week. Hopefully tonight will not be very busy so i can sit down and email a few friends.
Nai-mention mo si bro Eddie v sa 'about' section mo- just curious, are you a born again christian? Hope you don't mind me asking, as the name bro Eddie v was as synonymous with 'born again' or 'JIL'!
Well, christian, Muslims, Hindu, or whatever your belief brother as long as you love Filipinos and the filipino mother land and deeply desire its soon to be 'freedom' from moral and financial bankcruptcy i have no question about it.
One thing i know, your words of encouragements on the gma7 thread were like words of angels that i long to hear for a long time, (as many to whom i spoke to about doing things for the sake of the Philippines were all mere patronizing and discouragements - who can blame them!) your encouragements and ideas of possibilities to make a better Philippines were like a flickering light in a distance inside a cold, damp, dark tunnel!
Mabuhay ka sir, and God bless us all.”
Nai-mention mo si bro Eddie v sa 'about' section mo- just curious, are you a born again christian? Hope you don't mind me asking, as the name bro Eddie v was as synonymous with 'born again' or 'JIL'!
Well, christian, Muslims, Hindu, or whatever your belief brother as long as you love Filipinos and the filipino mother land and deeply desire its soon to be 'freedom' from moral and financial bankcruptcy i have no question about it.
One thing i know, your words of encouragements on the gma7 thread were like words of angels that i long to hear for a long time, (as many to whom i spoke to about doing things for the sake of the Philippines were all mere patronizing and discouragements - who can blame them!) your encouragements and ideas of possibilities to make a better Philippines were like a flickering light in a distance inside a cold, damp, dark tunnel!
Mabuhay ka sir, and God bless us all.”
From Daniel Dacillo of Qatar:
“…Kung anuman ang maitutulong ko upang magtagumpay ang balak na OFW Bank, maaasahan ninyo na handa akong sumuporta. Ang kahirapan nga lang sa kalagayan ko at iba pang mga naandito sa Qatar ay ang pag-uwi dahil usually yearly lang kami nakakauwi sa atin, merong iba na mas malimit at least twice a year na nakakatuwa din dahil siyempre mas malimit nilang makita ang mga pamilya nila kesa sa nakakarami dito sa amin.
Kayo higit sa lahat ang nakaaalam kung paano ang mga proseso ng ganitong bagay kaya siguro sa inyo mapupunta ang malaking kontribusyong pisikal at sakripisyo para matuloy ito…”
My reply to Andy P. of New Zealand:
“Salamat na nakatagpo po ako ng kapwa ko pong Pilipino na katulad ninyo na nangangarap at gumagawa ng mga paraan upang makatulong sa pag-unlad ng ating bayan.
Malaki ang tulong po ninyo sa pamamagitan ng inyong kasipagan sa paggawa dyan po sa ibang bansa, kahit na nga ang kapalit nito ay mabigat na sakripisyong mapalayo sa bayan at sa mga mahal sa buhay.
Ipagpatuloy po natin ang hangaring ito, at alam ko pong pagpapalain tayo ng Panginoon. Dama ko po ang kagandahang loob po ninyo at ang inyong pagiging makabayan. Nawa marami pa pong kababayan natin ang magkaroon ng ganito rin pong uri ng layunin.”
From Chriz Rimando of Abu Dhabi:
Malaki ang tulong po ninyo sa pamamagitan ng inyong kasipagan sa paggawa dyan po sa ibang bansa, kahit na nga ang kapalit nito ay mabigat na sakripisyong mapalayo sa bayan at sa mga mahal sa buhay.
Ipagpatuloy po natin ang hangaring ito, at alam ko pong pagpapalain tayo ng Panginoon. Dama ko po ang kagandahang loob po ninyo at ang inyong pagiging makabayan. Nawa marami pa pong kababayan natin ang magkaroon ng ganito rin pong uri ng layunin.”
From Chriz Rimando of Abu Dhabi:
“I share the same interest with you… start the OFW Bank rolling and Count me in. mabuhay ka kabayan, I share the same visions with you, you have all my support in your undertaking… My suggestion is have a thread showing the intentions of every OFW who would like to join our cause.”…
“I’ve already collated feasibility studies for Tilapia Raising, Goat raising and Quail egg raising. A viable business right now is food production, working here in Abu Dhabi, UAE encouraged me to go into food business production.”
(Chriz Rimando also plans to avail of the government’s P1B Loan Facility for OFWs and use the proceeds for profitable ventures together with like-minded OFWs that he is inviting to join him. You can reach him at Chrizvoltaire in Facebook and Multiply.com for more info.)
My reply to Chriz Rimando of Abu Dhabi:
“I Thanks for the email, it's good that you have that vision to put up food production ventures in the province when you come home. I have posted an edited portion of your email in the free website including your facebook &multiply account to spread the word and encourage those who are into food production to also go with you on a joint venture or coop basis.
May you find great success in that endeavor at sana mas marami pang mga kababayan nating OFWs ang magka lakas loob na pasukin ang mundo ng negosyo.”
You can also participate by sending us your reactions and suggestions or any ideas that can help promote the establishment of the OFW BANK through email by clicking HERE.
OTHER RELATED ARTICLES:
May you find great success in that endeavor at sana mas marami pang mga kababayan nating OFWs ang magka lakas loob na pasukin ang mundo ng negosyo.”
You can also participate by sending us your reactions and suggestions or any ideas that can help promote the establishment of the OFW BANK through email by clicking HERE.
OTHER RELATED ARTICLES:
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