MANILA - The President and Chief Executive Officer of the Maharlika Investment Corporation, the governing body of the Maharlika Investment Fund, should be a Filipino citizen, Department of Finance (DOF) Secretary Benjamin Diokno said.

Diokno made the clarification during a press briefing on Friday, days after the Bureau of Treasury (BTr) announced that it was accepting applications and nominees for senior members of the MIC.

Although the nationality requirement is not specified in the implementing rules and regulations of the MIF law, Diokno said it is mandated under the Government Commission for Government-owned or Controlled Corporations (GCG).

The MIC needs a President and CEO, two regular directors and three independent directors, according to the Maharlika implementing rules and regulations (IRR).

“The head of the MIC, dapat Pinoy ka e. Tsaka sa regular (directors). But yung sa independent (directors), pwede (na hindi),” said Diokno.

National Treasurer Rosalia De Leon, who was also present during the briefing, said they have yet to receive any applications since they posted the openings. But she noted that there have been a couple of inquiries.

“They want clarifications, halimbawa, sa qualifications. They still want to secure clearances, the requirements. It’s too early pa naman e. We just posted,” she said.

The deadline for applications is on Sept. 27.

De Leon said the applicants would first go through an ad hoc technical committee, composed of representatives from NEDA, DBM, BTr, and the GCG.

“For those na magku-qualify, it would now be turned over to the advisory body for the proper screening, interviews,” she explained.

Once the Board of Directors is complete, Diokno, who will sit as ex officio chairman, said their first order of business will be organizational matters.

“Tsaka yung budget, and then maghahanap kami ng opisina, (coming up with) the logo,” he said.

Diokno earlier said that the MIF would be operational before the end of 2023.

• Diokno: Maharlika fund up and running before end of 2023

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