Our banking industry<\/p>\n
Exactly 13 years ago, the government offered the 1988 October
\nPackage, which stipulated light requirements for the operation of
\nbanks. At that time, a person could open a bank for only Rp 10
\nbillion. Two or three years later, new banks mushroomed. Some
\nconglomerate owners even owned three or four banks at the same
\ntime.<\/p>\n
Eight years later, several new banks closed down. The
\ngovernment had begun to liquidate banks with little hope of being
\nsaved. This became worst when the economic crisis set in,
\nfollowed by the political crisis in 1998.<\/p>\n
Hundreds of trillions of rupiahs were provided by the
\ngovernment to save the banking industry from the crisis, both
\nthrough Bank Indonesia's emergency liquidity credit (BLBI) and
\nthe recapitalization program. Some banks were liquidated and
\nothers merged. Today, the number of banks is half of that in the
\npast.<\/p>\n
We do not want the second phase of recapitalization to happen.
\nThe Rp 425 trillion taken from the people's money for the
\nrecapitalization two years ago is enough. The people will suffer
\nmore if the program is implemented again.<\/p>\n
In any case, given to the 1988 October Package, we must save
\nour banking industry, not by allocating trillions of rupiahs, but
\nby making the business atmosphere nation conducive, calm and
\nsafe.<\/p>\n
-- Republika, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/our-banking-industry-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }