The Maharlika Investment Corp. , the state-run firm managing the country's first sovereign wealth fund, has finalized its investment and risk management framework, the Department of Finance said Friday.
The Finance Department added that the MIC's Board has approved its protocol, which covers the procedures for conducting Board of Directors meetings, in accordance with RA 11954, its Revised Implementing Rules and Regulations, and general principles of good corporate governance.The MIC has also secured membership in the International Forum of Sovereign Wealth Funds —an international organization setting governance standards for sovereign wealth funds around the world.
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