News Formal

The proposed Maharlika Investment Fund: What you need to know

  • 📰 CNN Philippines
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The proposal to establish the Philippines' sovereign wealth fund breezed through the House of Representatives — getting lawmakers' approval just weeks after it was floated. But will the move benefit the country? CNN Philippines breaks down what Filipinos can expect from the Marcos-backed Maharlika Investment Fund and the concerns surrounding it.

bill on final reading on Dec. 15 — or just around two weeks since the idea was first proposed.

It is patterned after the SWFs of dozens of other nations, including Singapore, China, Hong Kong, South Korea, and Malaysia..Initial capital will be sourced from the Bangko Sentral ng Pilipinas , as well as government financial institutions Land Bank of the Philippines and the Development Bank of the Philippines .

An earlier version of the bill included pension funds Government Service Insurance System and the Social Security System as among the sources for the seed capital, but lawmakers decidedSolon urges Congress to clarify role of SSS, GSIS in Maharlika fund

 

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:

 /  🏆 13. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Net Asset Value Per Share (NAVPS) Performance (as of September 20, 2023) • Philippine Investment Funds AssociationA broader look at today\u2019s business
Source: BusinessMirror - 🏆 19. / 59 Read more »

Net Asset Value Per Share (NAVPS) Performance (as of September 19, 2023) • Philippine Investment Funds AssociationA broader look at today\u2019s business
Source: BusinessMirror - 🏆 19. / 59 Read more »

US pledges new investment to support democraciesThe United States on Wednesday announced $225 million in investments to support emerging democracies in the face of a rise in autocracies around the world.
Source: manilabulletin - 🏆 25. / 51 Read more »