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Land Bank remits P50-billion contribution to Maharlika fund

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<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='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' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2023/life/07/21/20230718-marcos-maharlika-act-pna4432.jpg' ><figcaption>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. <em>Rolando Mailo, NIB-PNA</em></figcaption></figure></div><p>MANILA — The Land Bank of the Philippines on Friday said it remitted a P50 billion contribution to the Maharlika Investment Fund (MIF). </p><p>In a statement, the bank said it made the investment to the sovereign wealth fund through the Bureau of the Treasury on September 14, Thursday. </p><p>The law requires Landbank and the national government to contribute P50 billion each to the MIF. The Development Bank of the Philippines will put in another P25 billion.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/spotlight/06/03/23/the-maharlika-investment-fund-as-approved-by-congress'>EXPLAINER: The Maharlika Investment Fund, as approved by Congress</a></li></ul><p>"With the regulatory requirements in place, and after securing the seed capital from state-run institutions, we are confident that the Fund will be operational by yearend," said Finance Secretary Benjamin Diokno.</p><p>The implementing rules and regulations of the Philippines' first sovereign wealth fund were released in late August.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/08/29/23/maharlika-irr-released-to-take-effect-sept-12-diokno'>Maharlika IRR released, to take effect Sept. 12: Diokno</a></li></ul><p>The finance department said it has received applications from interested managers of the Maharlika fund. </p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/09/15/23/govt-gets-applications-for-maharlika-fund-managers-dof'>Gov't gets several applications for potential Maharlika fund managers: DOF</a></li></ul><div><strong> RELATED STORY:</strong></div><figure class='op-interactive'><iframe height='315' src='https://www.youtube.com/embed/w29AKN22ZcU?enablejsapi=1' width='560'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

The Land Bank of the Philippines said it remitted its P50 billion contribution in Maharlika Investment Fund. 