PRESIDENT Ferdinand R. Marcos Jr., confirmed that the implementing rules and regulations for the Maharlika Investment Fund (MIF) is now finalized, weeks after ordering it to be suspended and reviewed. "The Investment Rules and Regulations of Maharlika Investment Fund have been finalized," Marcos said on Instagram. "Upon our approval, we'll swiftly establish the corporate structure, getting the MIF up and running," he added. It will be recalled that the IRR, which would start the MIF's operationalization, was released in August. He suspended the implementation "pending further study" on October 18. Before he left for Saudi Arabia last month, Marcos said that the M|IF had not been put on hold, ratherm the government was working on having it operational within the year. "We are, the organization of the Maharlika Fund proceeds apace, and what I have done though, is that we have found more improvements we can make, specifically to the organizational structure of the Maharlika Fund," the President had said. He said that the suspension of the IRR should not be misinterpreted as a judgement of rightness or wrongness of the MIF. Under the law, the initial capitalization of the MIF would be sourced from Landbank at P50 billion, DBP at P25 billion, and the national government at P50 billion.
Remate Express
