WIMLER Foundation Hong Kong Ltd. was officially registered in 2011 as a non-profit and charitable organization which primary objective is to support the capacity building and empowerment of migrant communities regardless of nationalities and to promote cultural diversity in Hong Kong based on mutual respect, solidarity, and shared empowerment among peoples.
WIMLER Foundation Hong Kong works closely with its sister organization, WIMLER Partnership for Social Progress, Inc. (Philippines).
Saturday, May 11, 2013
WIMLER HK Launches Financial Literacy Awareness Day
Foundation Hong Kong in cooperation with Enrich, CARD-MRI, Helpers for Domestic
Helpers (HDH), SEDPI, Leadership and Social Enterprise (LSE) 12 graduates, and
participants of LSE 15 and LSE 16 is organizing a Financial Literacy Awareness
Day on Sunday, May 19 at Chater Road. The event is one of the activities during
ALAY: A Festival for the Filipino Community, which WIMLER HK is organizing with
support from CSL, Ayala Corporation, Ayala Land, Bank of the Philippine Islands,
is the most widespread and important migrant economic activity and indeed
offers the dual function of livelihood survival and (possible) asset building.
In spite of this huge remittance flows, it cannot be assumed that by working
abroad, migrants are able to secure their financial future. In many cases, by
sending remittances regularly and only for as long as they continue working
abroad, migrant workers are only able to provide the basic needs of their
families. This impacts their plans for return and reintegration.
organizing the Financial Literacy Awareness Day, it is hoped that greater
awareness among the Filipino migrant domestic workers on the importance of
financial literacy can be generated. Information materials are available in
various booths. Enrich, CARD-MRI, and HDH will inform the visitors about their
various products and services as well as schedules of their training and will
provide on-the-spot counseling in an interactive manner. The LSE 12 graduates
will display various social enterprise business plans they developed during the
course, hopefully, to generate inspiration for others. Some of these business
plans are already on the implementation stage.
Meanwhile, LSE participants and graduates will share their experiences
after attending financial literacy course and how it motivates them to start
planning for their return.
reactions of Filipino migrant domestic workers who attended financial literacy
training in Hong Kong provide various insights. Before the start of the training,
many migrant participants said that they have not even considered thinking of
what to do when their contract ends nor have they even thought about
reintegration. They have very little, if at all any savings, and simply
continue working for as long as they can. After the training, however, they
become enthusiastic and eager to learn more about personal finance.
are about 150,000 Filipino migrant domestic workers in Hong Kong who send
remittances estimated at US$420 million in 2012. According to the study
conducted by WIMLER involving 300 respondents , Filipino migrant domestic
workers in Hong Kong send money to their families, as often as, 11 times a year
and for as low as HK$500 to as high as HK$5,000 per remittance. Three in every
10 respondents send remittances to their families in the Philippines for more
than 10 years already; in effect, six of them have been doing it for more than
20 years. Remittances, the money sent by
migrants regularly to their families back home, can result to increased
incomes, improved health and better education, as well as, contribute to