#development bank of the philippines

6398, it would be the "Maharlika Investments Fund." Filed last November 28 by six representatives to help "achieving single-digit poverty levels and upper middle-income status for Filipinos," the proposal has hurdled the House Committee on Banks and Financial Intermediaries as of December 1. Then again, what do we know about this Fund being introduced in the Philippines? Although public pension funds may share similarities with SWFs, there are distinctions between them which the likes of the Organisation for Economic Cooperation and Development (OECD) would like to point out. LANDBANK and DBP are among the largest banks in the country, having PHP 2.8 trillion and PHP 971 billion in total assets, respectively. MIF investment activities shall be reported to the President of the Philippines not later than seven (7) days after each quarter, and submit financial statements not later than seven (7) days after each month. To recall, the founding GFIs would be the GSIS, SSS, LANDBANK, and DBP. To assist the Board, an Advisory Body constituted by the Finance Secretary, Budget Secretary, Socioeconomic Planning Secretary, and Treasurer of the Philippines would be formed. Despite having a record-breaking year in 2021, the issue of adequate safeguards has long permeated the debate regarding SWFs, particularly poorly-administered ones such as the 1Malaysia Development Berhad (1MDB). Read more in our articles including "FAQ: What do we know about the Maharlika Investments Fund?" and "BIR opens Tax Payer Portal".