ANGEL THOUGHTS The best way to find yourself is to lose yourself in the service of others. Mahatma Gandhi
OUTSTANDING FILIPINOS OF THE METROBANK FOUNDATION Top row, from left: Lou Sabrina Ongkiko, Dr. Maria Minerva Calimag, Dr. Iris Thiele Isip Tan, Jason Albaro; bottom row: Technical Serge
Severe slump may amplify risks for Philippine banks – IMF bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
March 7, 2021 | 7:51 pm Font Size
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THE TWO chambers of the legislature will form a Joint Congressional Oversight Committee (JCOC) to monitor the implementation of the Financial Institutions Strategic Transfer (FIST) Law, with its co-chairs saying that the panel will ensure that FIST incentives are not abused by parties availing of its tax-light asset-transfer rules.
“(The JCOC) will particularly ensure that the provisions on the FIST corporation applications and plans, transfer of assets, and availment of incentives and privileges are followed,” Senator Grace S. Poe-Llamanzares, who chairs the Committee on Banks, Financial Institutions and Currencies, said in a text message.
Ms. Poe-Llamanzares will co-chair the joint committee along with her House counterpart alongside Quirino Representative Junie E. Cua, who heads the House Committee on Banks and Financial Intermediaries.