R&D recipients still on BI's blacklist, Anwar says<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Six former bank owners deemed eligible for release and discharge
\n(R&D) status will remain on Bank Indonesia's list of bad bankers,
\ncentral bank senior deputy governor Anwar Nasution said.<\/p>\n
Anwar said on Friday that by receiving R&D status, the debtors
\nwould be considered to have settled their debts to the Indonesian
\nBank Restructuring Agency (IBRA), but would not automatically be
\nremoved from Bank Indonesia's blacklist, which prohibits them
\nfrom owning a majority stake in a bank.<\/p>\n
"For one to own a bank's majority stake, what we need to see
\nis not only the fit and proper test, but also what they did in
\nthe past that put their (previous) banks in trouble," Anwar said.<\/p>\n
Under the banking law, Bank Indonesia is entitled to conduct a
\nseries of tests on those wishing to own and operate banks.<\/p>\n
IBRA has repeatedly said that it has completed its review of
\nthe debts status of the six former bank owners, the results of
\nwhich show that they have all been cooperative in settling their
\ndebts. Because of this cooperation, according to IBRA, they are
\neligible for R&D status, which would effectively clear them of
\nall past charges of violating banking regulations.<\/p>\n
The restructuring agency is now awaiting approval from
\nPresident Megawati Soekarnoputri on the R&D status, which is
\nissued through presidential decree.<\/p>\n
The debtors in questions are Anthony Salim (former owner of
\nBank Central Asia), Siti H. Rukmana (Bank Yama), Liem Hendra
\n(Bank Bumi Internasional), The Nin King (Bank Dana Utama),
\nIbrahim Risjad (Bank Risjad Salim) and Sudwikatmono (Bank Surya
\nand Subentra).<\/p>\n
The six are among 35 bank owners who received Rp 144.5
\ntrillion in state funds from the central bank at the height of
\nthe financial crisis in the late 1990s to help their banks
\nsurvive the crisis.<\/p>\n
Many of the former bank owners, among the country's richest
\nbusiness tycoons during the economic boom of the early 1990s,
\nwere later accused by the Supreme Audit Agency of having misused
\nmuch of the bail-out funds.<\/p>\n
There also have been accusations that most of these bank
\nowners breached bank legal lending limit regulations by
\nchanneling most of their banks' money into affiliated businesses,
\nwhich is considered a crime under the current banking law.<\/p>\n
In an effort to avoid criminal indictment, they signed a debt
\nsettlement scheme with IBRA, allowing them to settle their debts
\nthrough cash and assets.<\/p>\n
Anwar said the central bank would continue to monitor the
\nmatter, particularly its legal aspects.<\/p>\n
Lukita D, Tuwo, secretary of the Financial Sector Policy
\nCommittee -- a powerful committee which groups together senior
\neconomic ministers and has the final say on IBRA's major
\ntransactions -- said on Friday the R&D status for the six former
\nbankers was expected to be issued soon.<\/p>\n
Six Debtors Deemed As Cooperative<\/p>\n
Debtors Banks Debts (Rp)<\/p>\n
Salim Group BCA 52.7 trillion<\/p>\n
Sudwikatmono Subentra & Surya 1.8 trillion<\/p>\n
Ibrahim Risyad Risyad Salim 0.6 trillion<\/p>\n
The Nin King Dana Hutama 15.1 billion<\/p>\n
Siti Hardijanti R Yakin Makmur 155.8 billion<\/p>\n
Liem Hendra Budi Int'l 10.1 billion<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/rd-recipients-still-on-bis-blacklist-anwar-says-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }