House panel adopts Senate version of Maharlika bill

MANILA, Philippines — The House of Representatives committee on banks and financial intermediaries has accepted the Senate’s version of the controversial Maharlika Investment Fund (MIF) bill.

A bicameral conference committee hearing was held on Wednesday to reconcile conflicting provisions between the chambers’ versions of the contentious proposal.

Sources, who asked not to be named, said House panel chair and Manila 5th District Representative Irwin Tieng accepted the MIF bill of the Senate.

The meeting was held only a few hours after the Senate passed its MIF bill — a version that had veered away from what was approved by the House in December last year.

Among the mo…

Keep on reading: House panel adopts Senate version of Maharlika bill