Overseas Filipinos trade on Philippine Stock Exchange

Overseas Filipinos can now invest and actively trade in the Philippine stock market through the internet, a top official of the Philippine Stock Exchange (PSE) said.

Francis Lim, president and chief executive of the PSE, said the Manila-based bourse has been extensively promoting online stock trading in a bid to lure in funds from overseas Filipino workers (OFWs).

“OFWs send home $15 billion (Dh55 billion) every year. That's why we are challenged to find ways to get a share of that money,'' Lim said on the sidelines of a recent Filipino community business forum.

Officials from online broker RCBC Securities gave a briefing on how to invest in the Philippine stock market via the internet.

The PSE recently conducted a stock market investment roadshow at the Le Meridien Hotel in Abu Dhabi and the Mina Al Salam Hotel in Dubai. It held separate briefing for “high net worth individuals'' at the Burj Al Arab.

Eight of the leading PSE-listed companies also made presentations to seven top financial institutions from the UAE, Kuwait and Jordan.

The seven were: Commercial Bank of Dubai, Arqaam Capital, Dubai Bank, Abu Dhabi Investments Authority, Istithmar, Al Aula Investment Services and Global Investments House.