Marcos says Maharlika fund safe from money laundering, hopes for 'fast' passage of 'correct' bill

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 86%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

President Ferdinand Marcos Jr. allayed fears that opening up the Maharlika fund to private investors would facilitate money laundering.

MANILA, Philippines –

.’ It’s not like that at all,” he added. “Even on our end, we will only deploy funds when there is a very specific project to be paid for. So, money laundering just won’t come into it.”idea of allowing private investments in the fund However, President Marcos has now joined the growing number of voices questioning this proposal. Marcos said that in a meeting, both he and Finance Secretary Benjamin Diokno found that using these dividends would not be feasible, with the President noting that it was “too disruptive.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gatchalian, Pimentel voice concerns over Maharlika Investment FundSenate President Juan Miguel Zubiri sees the passage of the Maharlika Investment Fund (MIF) in the upper chamber after the Holy Week, but his colleagues over the weekend voiced concerns over the proposed wealth fund. What are they gonna do now? Voicing concerns won’t do anything unless action is done !!! Medyo lito sa concept ng 'investment fund' yong dalawa. 🤣🤣🤣 Sa mga tanong pa lang sablay na. 🤣🤣🤣
Source: gmanews - 🏆 11. / 68 Read more »

Mark Villar files Maharlika Investment Fund bill at SenateMANILA, Philippines — A measure seeking to set up a Maharlika Investment Fund has been filed in the Senate. Senator Mark Villar on Monday filed Senate Bill No. 1670 to create the DFernandezINQ Nagpaka tuta na talaga ito tulad ng iba
Source: inquirerdotnet - 🏆 3. / 86 Read more »

The political cost of the Maharlika Investment Fund - BusinessWorld OnlineI was discussing the recently approved third reading version of House Bill No. 6088 “Establishing the Maharlika Investment Fund, Providing for the Management, Investment, and Use of the Proceeds of the Fund, and Appropriating Funds Therefor,” the supposedly revised, “clean,” and upgraded version of the bill submitted by the economic managers, with some friends from […]
Source: bworldph - 🏆 9. / 68 Read more »

Private money will fund MIF, but safeguards vs laundering built in–PBBM | Samuel P. MedenillaPRESIDENT Ferdinand R. Marcos Jr. announced on Monday that private money may be used for the proposed Maharlika Investment Fund (MIF), but gave assurances that safeguards will be in place so it cannot be used for money laundering. Marcos made the remarks amid concerns by some lawmakers that the MIF…
Source: BusinessMirror - 🏆 19. / 59 Read more »

Maharlika fund billed as means of addressing power, food security - BusinessWorld OnlineSpeaker Ferdinand Martin G. Romualdez said on Sunday that the Maharlika Investment Fund (MIF) bill will help address rising electricity and fuel prices. READ: really? prove it sir by numbers. otherwise it will just be another myth like the fund itself. lokohin mo na lang lelang mong panot..
Source: bworldph - 🏆 9. / 68 Read more »