Romualdez assures business sector: Maharlika Fund has safeguards vs abuse

📆 2023/02/24 18:45:00
📰 inquirerdotnet

⏱ Reading Time:
21 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 86%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The safeguards placed on the proposal to create the country’s first sovereign wealth fund are solid enough to guard against misappropriation, House Speaker Ferdinand Martin Romualdez told the business sector. READ:

Romualdez, in particular, mentioned these six proactive safety checks under HB No. 6608:

MIC operations will be monitored by the Maharlika Investment Fund Joint Congressional Oversight Committee “If these pro-active provisions are not enough, House Bill No. 6608 also provides heavy penal provisions and criminal sanctions to hold accountable and punish any director, trustee, or corporate officer who is proven to have abused the management of the Maharlika Investment Fund,” Romualdez noted.

Write Comment

Sure na vah

It is our prayer for our leaders not to abuse us because they do as a matter of fact.

The risk is actually on the business plan. They're planning to invest on western market that is not related to the growth of our economy.

Etchuserang frog

utot nyo

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:

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Romualdez assures business sector: Maharlika Fund has safeguards vs abuseThe safeguards placed on the proposal to create the country’s first sovereign wealth fund are enough to protect it from potential abuse, House Speaker Ferdinand Martin Romualdez told the business sector. | GabrielLaluINQ GabrielLaluINQ Yeah right.
Source: inquirerdotnet - 🏆 3. / 86 Read more »