Maharlika Investment Fund

MANILA, Philippines — The bill seeking to establish the Maharlika Investment Fund (MIF) – a sovereign wealth fund (SWF) that the government can use to make ...

Yedda Marie Romualdez and Jude Acidre; and Marikina 2nd District Rep. To recall, the original bill (HB No. 6608 as urgent because “people who are already deep [in] debt” do not need it, especially amid rising prices of goods, low salaries, and other economic problems. The bill seeking to establish the MIF was principally authored by Speaker Romualdez; Majority Floor Leader and Zamboanga City 2nd District Rep. Alliance of Concerned Teachers Party-list Rep. READ: 6608 on the third and final reading even just hours after Manuel Jose Dalipe; Ilocos Norte 1st District Rep. Marcos Jr.’s action enabled the House of Representatives, currently being helmed by his cousin – Speaker and Leyte 1st District Rep. No legislator abstained from the voting. 6608 was approved, with 279 lawmakers voting in the affirmative while six voted against.

Metro Manila (CNN Philippines, December 15) — The House of Representatives on Thursday approved on second reading House Bill 6608 creating the Maharlika ...

QUEZON City District 1 (QCD1) Representative Juan Carlos “Arjo” Atayde, a freshman legislator, on Thursday said he would support moves to include additional ...

Atayde explained that the addition of a penal provision punishing directors, trustees, or officers of the Maharlika Investment Corporation for violating MIF investment policies and guidelines “is another example of the steps we in Congress are taking to protect the interests of our constituents, the Filipino people.” According to the solon, “the amendments already adopted by the House of Representatives in the ongoing deliberations of House Bill (HB) 6608 or the Maharlika Investment Fund Act are proof that we in Congress are serious about making the MIF as corruption-free and as risk-free as possible.” QUEZON City District 1 (QCD1) Representative Juan Carlos “Arjo” Atayde, a freshman legislator, on Thursday said he would support moves to include additional safeguards in the management of the Maharlika Investment Fund (MIF) to prevent corruption and to ensure that the fund will truly benefit the country

THE House of Representatives has given its final nod to House Bill 6608 or the proposed Maharlika Investment Fund Act. The bill hurdled third and final ...

He said he "will continue to study viable models and frameworks for the MIF. I will continue to study viable models and frameworks for the MIF. "As Chair of the Technical Working Group for refining the Maharlika Investment Fund Act, I thank the House for its favorable consideration of the enhanced version of the bill," Albay Second District Rep. And why is this measure urgent at all?" "Now the issue is what can the fund be used for. Clemente "Joey" Salceda said in a statement. It could be good for the country," he said. "This represents best practices for operations of SWFs," he said. "We will try to find out when we interpellate on the Maharlika Fund bill. What is it that they really want to achieve with this measure? He thanked the President "for certifying the refined version of the bill as urgent." Under House Bill (HB) 6608, the MIF will have the Development Bank of the Philippines (DBP) and LandBank of the Philippines (Landbank) initially providing a total of P75 billion.

MANILA, Philippines – The bill seeking to create the Maharlika Investment Fund (MIF) hurdled the House of Representatives on Thursday, December 15, after ...

A total of 279 lawmakers voted in favor of the bill. – Rappler.com certified the proposal as urgent.

As expected by many, the House of Representatives approved on third and final reading on Thursday night the proposed Maharlika Investment Fund (MIF), which, ...

The MIC will also have an internal and an external auditor, aside from being subjected to examination by the Commission on Audit (COA). The bill creates the Maharlika Investment Fund Corporation (MIC), which will manage the fund. We want to assure the public that the management of the fund will follow best practices and the principles of transparency and accountability,” he said. (Pagcor), and Bangko Sentral ng Pilipinas (BSP) as MIF contributors. Thursday was the last session date of the year. In the past couple of days, Romualdez—one of the prime movers of the MIF–has been highlighting the swelling number of co-authors of the measure. Irwin Tieng, chairman of the Committee on Banks and Financial Intermediaries–the mother committee of HB No.6608–sponsored and defended the measure for the most part. It is patterned after the sovereign wealth fund of other countries, including our ASEAN neighbors. Most of the interpellators have been from the minority bloc. Thursday, a total of 280 solons—just under 90 percent of the House membership–has affixed their signature to the bill. 28, the measure has been under debate on the floor since Monday, Dec. “Urgent” bills not need go through the three-day wait period between second and third reading.