BI and supervisory function<\/p>\n
In response to a statement from the head of Bank Indonesia
\n(BI)'s communications bureau, A. Djaafara, and the director of
\nBI's Bank Supervision Directorate, Sabar Anton Tarihoran (Suara
\nPembaruan, Jan. 27) regarding Bank Global to the effect that:
\n1. The proceeds from the disbursement of mutual funds must be
\ncollected as cash.
\n2. The procedure does not conform to usual transactions regarding
\ncharging on the bank's liability side without any entry of cash
\nfunds in the asset side.
\n3. The BI supervision team was limited in its movement in Bank
\nGlobal so that BI found it difficult to conduct tight
\nsupervision.
\n4. Sabar Anton Tarihoran will explain this matter directly to the
\ncustomers.<\/p>\n
As Bank Global customers, we would like to express the
\nfollowing:
\n1. Which regulation can explain that the proceeds from the
\ndisbursement of mutual funds must be collected as cash? Just
\nimagine that the mutual funds disbursed are in the amount of
\nbillions of rupiah and you have to collect the money in cash.<\/p>\n
This is in conflict with the payment system in Indonesia
\nbecause, aside from cash payment, it is also valid and authentic
\nto have payment through book transfer, through giro accounts and
\nsaving accounts plus LLG and RTGS. BI has itself recommended that
\ntransactions in huge amounts should not be carried out in cash to
\nprevent money laundering. So, the statement of BI, as the central
\nbank, contradicts the regulations that BI has issued itself.
\n2. A procedure that does not conform to usual transactions on the
\ncharging of the bank's liability side without any cash funds
\nentering the asset side.<\/p>\n
This is weird and ironical that the full tasks and
\nresponsibility have been absolutely shouldered by BI, especially
\nthese transactions occurred during the period of BI's special
\nsupervision over Bank Global, from Oct. 27, 2004 up to Dec. 13,
\n2004. Why didn't BI prevent these transactions and why did it
\nallow them to happen, instead?<\/p>\n
Must, for each transaction, a customer personally go into Bank
\nGlobal to supervise the records and book-keeping of the bank's
\ntransactions? If so, what is the purpose of BI's supervision?<\/p>\n
It is really shameful that BI, as the central bank and the
\nonly authority to carry out supervision over the activities of
\nall banks in Indonesia, was powerless in dealing with banks that
\nshould be under its own supervision.<\/p>\n
How can the public trust some 140 banks in Indonesia?
\n3. We agree that Sabar Anton Tarihoran will give a direct
\nexplanation to the customers.<\/p>\n
JOHARI et al
\n Bank Global customers<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bi-and-supervisory-function-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}