President Ferdinand Marcos Jr. said that the Philippine government has received and processed over 1,000 insurance claims from Saudi Arabia for Filipino workers affected by bankrupt companies.

In a video message posted on social media on Tuesday, Marcos said the update comes as part of the promise made by Saudi Crown Prince Mohammed bin Salman to ensure workers receive their due compensation.

"I am happy to inform our OFWs in Saudi Arabia that the payment of insurance by the Saudi government continues," President Marcos said in a statement.

"The Overseas Filipino Bank and Land Bank have processed 1,104 Alinma Bank Indemnity Cheques, totaling P868,740,544," he added.

According to the President, 1,014 of these cheques have already been cleared and credited to individual accounts, with 843 payments successfully completed.

This represents significant progress in fulfilling the commitment made by the Saudi Crown Prince.

"The promise of the Crown Prince of Saudi Arabia continues - his promise to us that they will pay the insurance claims. So, this is good news for our OFWs in Saudi Arabia," Marcos said.

The Philippine government has expressed its gratitude to the Saudi Arabian government for honoring its commitment and ensuring the welfare of Filipino workers.

Marcos said that the continued cooperation between the two countries will benefit both nations and their citizens.

Last October, Marcos assured more than 10,000 Filipinos employed abroad who lost their jobs due to the Middle East's 2015 economic crisis that they would get payment from the Kingdom of Saudi Arabia "soon."

But last December, the Saudi government has begun sending checks to some overseas Filipino workers who are entitled to labor claims dating back years.

“The claimants are receiving communications from Saudi entities in fulfillment of the promise of the Crown Prince. (But) as we speak, there are certain challenges,” said DMW Undersecretary Bernard Olalia in a year-end press conference last 29 December.

The difficulties, according to Olalia, include the fact that some claimants have already passed away and that widows can find it difficult to obtain the checks from overseas banks that their late spouses left behind and had deposited in a Philippine bank.

Olalia stated that in order to help all employees receive and cash their checks, the DMW was working with the Overseas Filipino Bank.