LBP, Japan bank ink remittance service

YOKOHAMA – President Aquino has announced that the Land Bank of the Philippines (LBP) and the Japan Post Bank have agreed to make remittance service for Filipinos faster, safer and cheaper.

Speaking before the Filipino community after attending Mass Sunday afternoon, Aquino said he was informed that high remittance charges in Japan have significantly reduced money sent to the Philippines.

“Come Jan. 17, 2011, and if this does not happen I’ll be the one to blame (Finance) Secretary (Cesar) Purisima, you can now send money through the nearest Japan Post Bank branch to a Land Bank account,” he said.

Aquino said although the weakening dollar is affecting the remittances of overseas Filipino workers, it is helping importers. “We want to balance the economy for the interest of the majority,” he said. 

“The weakening of the dollar is not just an issue involving Filipinos but other countries as well.” Aquino said this was the reason why the issue on currencies was discussed during the recently concluded Asia-Pacific Economic Cooperation Leaders’ Summit in Japan.

 -Meanwhile, World War II Filipino comfort women lauded President Aquino yesterday for announcing that he would seek an apology from Japan and allocate national funds for their compensation. Members of Lila Pilipina, a group under the umbrella of Gabriela, said the promise is “a break of dawn in their twilight years” considering that a Philippine president has finally decided to speak up on the issue. Rechilda Extremadura, Lila Pilipina executive director, said this is yet the closest thing to a guarantee they have received. – Aurea Calica, Michael Punongbayan