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List of nominees for Maharlika board to be transmitted by second week of October - Diokno
List of nominees for Maharlika board to be transmitted by second week of October - Diokno
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List of nominees for Maharlika board to be transmitted by second week of October - Diokno
by Ellicia Del Mundo02 October 2023
Photo courtesy: Department of Finance

The list of nominees for the top positions in the Maharlika Investment Corporations (MIC) board of directors will be transmitted to the Office of the President (OP) by the second week of October, according to Department of Finance Secretary (DOF) Benjamin Diokno.

In a statement on Sunday, Diokno said the advisory body, which he currently heads, would send the final list of qualified nominees to the OP on or before Oct. 12.

"[A]fter which the President of the Philippines shall appoint the best candidates for the respective positions," he added.

Under Republic Act No. 11954 or the Maharlika Investment Fund of 2023, the MIC is mandated to "govern and manage the fund in adherence with the objectives and purposes set forth in this Act, and other laws, rules, and regulations."

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The MIC board of directors shall be composed of the president and CEO, two regular directors, and three independent directors.

The President and CEO of the Land Bank of the Philippines (LBP) and President and CEO of Development Bank of the Philippines (DBP) shall also be part of the MIC board of directors.

The Presidential Communications Office (PCO) opened the application and nomination process for the MIC top position on Sept. 12 and this ended on Sept. 27.

Department of Budget and Management (DBM) Secretary Amenah Pangandaman earlier said there were eight individuals who submitted their applications for the top positions in the MIC board of directors.

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She said the eight mostly came from the private sector and none from the government sector.

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