Maharlika fund's implementing rules may be ready by mid-August: Diokno | ABS-CBN

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Maharlika fund's implementing rules may be ready by mid-August: Diokno

Maharlika fund's implementing rules may be ready by mid-August: Diokno

ABS-CBN News

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President Ferdinand Marcos Jr. signs Republic Act 11954 or the Maharlika Investment Fund Act in a ceremony at the Kalayaan Hall of Malacañan Palace in Manila on July 18, 2023. Rolando Mailo, NIB-PNA
President Ferdinand Marcos Jr. signs Republic Act 11954 or the Maharlika Investment Fund Act in a ceremony at the Kalayaan Hall of Malacañan Palace in Manila on July 18, 2023. Rolando Mailo, NIB-PNA

MANILA — The implementing rules and regulations (IRR) of the Maharlika Investment Fund may be out by mid-August, Finance Secretary Benjamin Diokno said Tuesday.

Speaking on ANC's "Headstart," Diokno said economic managers started the drafting of the IRR shortly after the Senate passed the measure.

"I think it should be ready by mid-August, or at the latest by end-August," he said.

Diokno said the IRR would be made public.

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The Maharalika Investment Fund is the Philippines' inaugural wealth fund and will be allocated across a diverse range of assets.

Diokno said the selection of board members for the fund was underway.

"We're collecting recommendations... They don't have to be Filipino citizens, but they have to have the right credentials," he said.

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