President Ferdinand R. Marcos Jr. announced on Tuesday that migrant Filipino workers who were laid off due to the bankruptcy of Saudi Arabian firms in 2015 and 2016, have begun receiving their unpaid compensation.
The President announced that the Overseas Filipino Bank and Land Bank of the Philippines have begun to process 1,104 checks issued by the Alinma Bank Indemnity of Saudi Arabia.
M. Marcos said that 843 checks totaling close to P700,000,000 had been cleared in pesos equivalent.
In a press statement, the Palace stated that during his bilateral meeting with Mr. Marcos in Bangkok, Thailand, on the sidelines of the Asia-Pacific Economic Cooperation Summit, Saudi Crown Prince Mohammed Bin Salman Al Saud had promised to pay 2 billion Riyals to the 10,544 OFWs affected by the bankruptcy nine years ago.
