Development Bank of the Philippines President and CEOThe law also states that an advisory body “shall ensure that the selected members of the Board of Directors are with proven probity, competence, expertise and experience in finance, economics, investments, business management, or law, and are highly capable to contribute to the attainment of the objectives and purposes of the MIF.
He also responded to the plans of MIF critics to challenge the newly signed law before the Supreme Court. Although Villar said it is their right to question the contentious measure in the high court, he appealed for them to give the law a chance first. “Let us give this law a chance. It was overwhelmingly approved by the houses of Congress. It was endorsed by the President. It’s a priority bill,” he said.
The then-MIF bill, which Marcos had certified as urgent, was overwhelmingly approved by the Marcos-allied supermajority in both the Senate and the House of Representatives.
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