Act on money laundering: Howard<\/p>\n
Indonesia should open up its financial institutions to scrutiny
\nas a way of cracking down on money laundering and earning the
\ntrust of foreign investors, Australian Prime Minister John Howard
\nsaid on Sunday.<\/p>\n
President Susilo Bambang Yudhoyono wants Indonesia removed
\nfrom an international list of countries that are not doing enough
\nto stamp out money laundering.<\/p>\n
Howard said he would hold talks with Indonesian Minister of
\nFinance Yusuf Anwar to discuss how best to achieve that goal.<\/p>\n
"I will be very happy to talk about it," Howard told
\nAustralian television's Nine network.<\/p>\n
It was not immediately clear when the talks would happen.<\/p>\n
Howard said many foreign investors would shun Indonesia until
\nit built confidence in its financial systems.<\/p>\n
"We encourage Indonesia to be as transparent financially as
\npossible," he said.<\/p>\n
"The key to Indonesia's future economic success is foreign
\ninvestment and you don't attract foreign investment in today's
\nworld unless you have a transparent domestic economic and legal
\nsystem because if people don't feel sure that their investments
\nare safe, they'll invest elsewhere," he added. "That is the
\nreality that all countries that have tried to emerge from an
\nunderdeveloped stage have to understand and recognize."<\/p>\n
Indonesia is on a list of so-called Noncooperative Countries
\nand Territories compiled by the Paris-based Financial Action Task
\nForce on Money Laundering.<\/p>\n
According to the task force's Website, the other countries on
\nthe list are the Cook Islands, Myanmar, Nauru, Nigeria and the
\nPhilippines. --AP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/act-on-money-laundering-howard-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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