{
    "success": true,
    "data": {
        "id": 1224439,
        "msgid": "niaga-under-blanket-scheme-ibra-1447893297",
        "date": "2002-11-07 00:00:00",
        "title": "Niaga under blanket scheme: IBRA",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Niaga under blanket scheme: IBRA The Jakarta Post, Jakarta The Indonesian Bank Restructuring Agency (IBRA) said that Bank Niaga would remain under the government blanket scheme, despite objections by Malaysia's Commerce Asset Holding Bhd during talks for selling the latter a 51 percent stake in the bank. IBRA denied a report by The Jakarta Post on Wednesday that said negotiations had led to Commerce's exemption from the blanket guarantee scheme.",
        "content": "<p>Niaga under blanket scheme: IBRA<\/p>\n<p>The Jakarta Post, Jakarta<\/p>\n<p>The Indonesian Bank Restructuring Agency (IBRA) said that Bank<br>\nNiaga would remain under the government blanket scheme, despite<br>\nobjections by Malaysia's Commerce Asset Holding Bhd during talks<br>\nfor selling the latter a 51 percent stake in the bank.<\/p>\n<p>IBRA denied a report by The Jakarta Post on Wednesday that<br>\nsaid negotiations had led to Commerce's exemption from the<br>\nblanket guarantee scheme.<\/p>\n<p>\"Commerce will abide by the deposit guarantee scheme,\" IBRA<br>\nspokesperson Franklin Richard said.<\/p>\n<p>The blanket guarantee scheme, introduced in 1999, requires the<br>\ngovernment to cover bank liabilities in the event of a massive<br>\nrun. Its presence has helped bolster public confidence in a<br>\nbanking sector still reeling from the 1997 economic crisis.<\/p>\n<p>Commerce originally rejected the scheme, but Franklin said the<br>\ninvestor later accepted it after it was told that the scheme was<br>\nmandatory on all local banks.<\/p>\n<p>Disagreement over the scheme was one of the four outstanding<br>\nissues IBRA and Commerce managed to resolve before coming to a<br>\ndeal for selling Rp 1.06 trillion (about US$115.21 million)-worth<br>\nof shares in Bank Niaga.<\/p>\n<p>Franklin said the agency planned to sign a deal this Friday.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/niaga-under-blanket-scheme-ibra-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}