Expert advisor for capital market development hired<\/p>\n
JAKARTA (JP): Minister of Finance Mar'ie Muhammad yesterday
\nnamed Dahlan M. Sutalaksana, chief of the central bank's money
\nand capital market department, as his expert advisor in charge of
\ncapital market development.<\/p>\n
Mar'ie also appointed Darsjah as the new director general for
\nthe state budget, to replace Benyamin Parwoto.<\/p>\n
Darsjah was formerly director of the routine government
\nbudget.<\/p>\n
Mar'ie told reporters that he needs an advisor on capital
\nmarkets because of the rapidly growing domestic exchanges.<\/p>\n
\"This advisor will be responsible not only for monitoring the
\ndevelopments in the capital market but also for helping develop
\nlinks between the money market and the capital market,\" he
\nexplained.<\/p>\n
According to Mar'ie, the two are complementary.<\/p>\n
\"An expert staff is therefore essential to synchronize the
\ntechnical aspects of policy-making for the two markets, which are
\nboth under the supervision of the ministry of finance,\" he said.<\/p>\n
Although the money market is handled by the directorate
\ngeneral of financial institutions, it was considered unnecessary
\nto establish a new directorate general to manage the capital
\nmarket.<\/p>\n
Mar'ie said the appointment of Dahlan, who was formerly the
\nhead of the Money and Capital Market Department at Bank
\nIndonesia, had been carefully planned.<\/p>\n
Responding to questions on the new credit rating agency,
\nDahlan, who is also one of the agency's founders, said the agency
\nis now recruiting rating analysts.<\/p>\n
The analysts are attending training programs by various
\nforeign agencies, including the Standard & Poor's, the London-
\nbased IBCA (International Banking Credit Association) and the
\nMalaysian, Philippine and Thai credit rating agencies.<\/p>\n
\"The agency's task is to rate debt instruments which will be
\nsold to the public, such as bonds and commercial papers,\" he
\nexplained.(10)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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