Ithmar Capital and Maharlika strengthen sovereign investment cooperation

Morocco’s sovereign investment fund Ithmar Capital and the Philippines’ Maharlika Investment Corporation have signed a memorandum of understanding to establish a strategic partnership focused on sovereign wealth fund governance, institutional development, and knowledge sharing.

The agreement aims to strengthen cooperation between the two institutions through the exchange of best practices, governance standards, and capacity-building initiatives. It also reflects the growing economic relationship between Morocco and the Philippines as both countries seek to reinforce collaboration in long-term strategic investment.

The memorandum was signed during a videoconference attended by Morocco’s Ambassador to the Philippines, Mohammed Rida El Fassi, Philippine Ambassador to Morocco Leslie J. Baja, and Philippine Secretary of Finance and Chairman of the Maharlika Investment Corporation Board Frederick D. Go.

The agreement was formally signed by Ithmar Capital Managing Director Obaid Amrane and Maharlika Investment Corporation President and Chief Executive Officer Rafael D. Consing Jr.

Amrane said the partnership would allow both institutions to exchange expertise and strengthen cooperation, emphasizing that sovereign wealth funds can enhance their performance through shared experience, sound governance, and sustainable development practices.

Consing described the agreement as an important step in supporting Maharlika Investment Corporation’s ambition to become a world-class sovereign wealth fund operating under international governance standards, transparency, and accountability.

The memorandum establishes a structured framework for cooperation covering several strategic functions. It also creates a joint steering committee responsible for supervising implementation of the partnership and identifying future areas of collaboration.

The committee will prepare recommendations and summary reports designed to support Maharlika Investment Corporation in strengthening its institutional capacity and aligning its governance practices with international standards.

As part of the partnership, Ithmar Capital will share its experience in sovereign investment management to help strengthen Maharlika Investment Corporation’s operational capabilities as the Philippine fund prepares to join the International Forum of Sovereign Wealth Funds.

The agreement also reinforces institutional relations between Morocco and the Philippines and reflects broader efforts by both countries to expand bilateral economic cooperation through strategic investment partnerships.