Kayang-kaya! DOF: Only 3% of Landbank, DBP funds to be invested in Maharlika Fund

A Department of Finance (DOF) official defended the plan to require the Land Bank of the Philippines and the Development Bank of the Philippines to contribute money to the controversial Maharlika Investment Fund.

Maharlika fund might lead to higher taxes, ex-BSP exec warns. Here’s why

DOF Undersecretary and National Treasurer Rosalia De Leon said the state-owned banks’ contributions won’t leave a sizable dent in their finances.

DOF highlights need to streamline VAT exemptions for higher collection efficiency

“Iyon pong LANDBANK mayroon po silang about 1.3 trillion na investible funds. Iyon pong ibibigay nila sa MIF na P50 billion, wala pa pong mga 3 percent po iyon,” De Leon said in a weekend forum.

“Malaki pa po ang pwedeng magamit ng LANDBANK to be able to cater to the requirements po ng ating agricultural sector na ating mga farmers and fisherfolks,” she added.

Land Bank-DBP merger to create Philippines biggest bank

De Leon said DBP’s own P25-billion contribution to Maharlika’s seed fund accounts for 2.7% of the bank’s investment portfolio.

The bill creating the MIF is awaiting President Ferdinand Marcos Jr.’s signature after hurdling both houses of Congress.

Subscribe to

Stay in the know with Bilyonaryo’s unparalleled coverage of business news and global industries!

Elevate your understanding of the Philippine business landscape and gain insights into worldwide markets by subscribing to our dedicated channels. Receive breaking news, in-depth analyses, and exclusive interviews with industry leaders directly on Viber, WhatsApp, and Facebook. Stay informed and empowered with our Email Newsletter, delivering curated content right to your inbox.

Don’t miss out on crucial updates and trends shaping economies and businesses both locally and internationally.

Join Bilyonaryo’s community today by clicking the button below to subscribe and stay ahead in the dynamic world of business.

Share this Bilyonaryo story