Connect with us

Hi, what are you looking for?


No issues with Maharlika Investment Fund — Medalla

THE BANGKO SENTRAL ng Pilipinas (BSP) has no issues with the current version of the bill seeking to establish the Maharlika Investment Fund (MIF), its governor said on Monday.

“The bill, as it is now, is okay. This is the product of long periods of discussions on the bill,” BSP Governor Felipe M. Medalla told reporters on the sidelines of the FinTech Alliance’s general membership meeting.   

He said the fact that it is more of a development rather than a sovereign wealth fund is good.   

“It is no longer a sovereign wealth fund. It is now more of a national development, investment fund. I don’t know what it will be used for. But the way it’s evolving now, it will be very targeted, and it will have many good governance principles,” he added.

The requirement for the BSP to contribute 100% of its dividends to the fund’s first two years is also not an issue, Mr. Medalla said.

“The balance sheet of the central bank is quite strong. The postponement of the capital infusion by the National Government to the BSP is not a critical issue,” he said.   

After the first two years, the central bank’s contribution to the fund will be brought down to 50% of its dividends. The remaining 50% will then be remitted to the National Government for the increase in capitalization of the BSP.

The fund will also draw initial capital from Land Bank of Philippines, Development Bank of the Philippines, Philippine Amusement and Gaming Corp. and proceeds from the privatization and transfer of government assets. 

“The Maharlika Investment Fund is for a more strategic focus on investments. (It can) focus on climate change, for instance. (It offers) a more focused fund that can help achieve the national agenda,” Mr. Medalla added.   

Senate President Juan Miguel F. Zubiri last week said the MIF bill would likely be approved this week.

President Ferdinand R. Marcos, Jr. has certified Senate Bill No. 2020 as urgent, which means it can be approved on second and third reading on the same day. — Keisha B. Ta-asan

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



THE PESO rose against the greenback on Wednesday after global oil prices went down to three-week lows and the dollar slightly eased against other...


SHARES dropped on Wednesday as the market stayed on the sidelines ahead of the release of September inflation data, which could affect the Bangko...


THE Board of Investments (BoI) said it endorsed for green-lane treatment a P50-billion common passive telecommunications tower infrastructure project which it expects to generate...


THE Department of Trade and Industry (DTI) said manufacturers had arrived at a “consensus” to delay price increases until the end of 2023. “What...


THE Department of Budget and Management (DBM) said it wants to keep disbursements above 20% of gross domestic product (GDP) to ensure the government...


PROPOSALS to tax junk food as well as raise the current tax on sweetened beverages are not feasible, a senior legislator said. “On a...

You May Also Like

Top News

As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...


The Toto site’s user-friendly interface makes it easy for both beginners and experienced gamblers to navigate through the various features. “¸ÔÆ¢Æú¸®½º site is a...


Almost 100 jobs are thought to be under threat at smart home energy technology manufacturer myenergi. The Grimsby firm, named one of the UK’s...


JUNIOR FERREIRA-UNSPLASH The Philippines is a very small power market by ASEAN standards, with market demand peaking at 15 gigawatts (GW) compared to Thailand’s...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.