GCG green-lights Landbank-DBP merger

The GCG has informed President Ferdinand Marcos Jr. that the planned merger of Land Bank of the Philippines and Development Bank of the Philippines does not need a new law to be done. | RonWDomingoINQ /PDI

“The GCG, pursuant to memorandum Circular 2015-03 [it issued in April 2015], has the power to ascertain the manner of the merger,” GCC chair Alex Quiroz said in a statement.Thus, the GCG has submitted to President Ferdinand Marcos Jr a study that spells out the details of how to go about with the Landbank-DBP union.

Citing laws and a Supreme Court decision, the GCG said the President has the power “to implement the merger…without waiting for Congress to file and pass related bills.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

inquirerdotnet /  🏆 3. in PH

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Solon sees govt earning big from LBP-DBP union | Jovee Marie de la CruzA senior lawmaker has high hopes the national government will receive bigger cash dividends from the Land Bank of the Philippines (LBP) after its planned merger with the Development Bank of the Philippines (DBP). Surigao del Sur Rep. Johnny T. Pimentel said these dividends will support the government’s efforts to…
Read more »

Miss Universe Philippines delegates’ trainings pay offThe Miss Universe Philippines delegates underwent a series of training sessions, workshops, seminars and other activities to further empower them for the subsequent stages of the competition. | diyarista
Read more »

Philippines won't use EDCA to meddle in China-Taiwan tension – DNDThe Department of National Defense says it 'takes exception to the statement of Chinese Ambassador to the Philippines Huang Xilian that the Philippines is meddling in the internal affairs of China concerning Taiwan.'
Read more »

'Maria Clara at Ibarra,' nangungunang TV show sa Netflix Philippines!Talaga namang hindi pa tapos ang 'Maria Clara at Ibarra' fever!
Read more »

[OPINION] The Nationally Determined Contribution: Looking back at the Philippines’s climate promise'For a nation so used to hearing one broken promise after another, the Nationally Determined Contribution (NDC) must not follow in those footsteps.' Opinion Voices
Read more »

Czech Prime Minister Petr Fiala arrives in the PhilippinesPhilippine President Ferdinand Marcos Jr. and Czech Prime Minister Petr Fiala are set to discuss defense cooperation and trade, among others, in their bilateral meeting in Manila
Read more »