Sjahril vows probe into IBRA scandal<\/p>\n
JAKARTA (JP): Bank Indonesia Governor Sjahril Sabirin
\nreaffirmed on Tuesday the government's blanket guarantee of
\ninterbank loans and asserted that no third-party services were
\nneeded to claim reimbursement, an allegation at the center of the
\nBank Bali scandal.<\/p>\n
Sjahril also confirmed that the Indonesian Bank Restructuring
\nAgency (IBRA) transferred Rp 904.6 billion (US$133 million) to
\nBank Bali as reimbursement for its interbank loans to three banks
\nclosed by the government.<\/p>\n
He was commenting on allegations Bank Bali paid Rp 550 billion
\nin commissions to Golkar Party deputy treasurer Setyo Novanto and
\nseveral other businesspeople connected with the ruling party for
\nwhat were described as their good offices in recouping interbank
\ncredits.<\/p>\n
\"We will investigate whether there were illegal payments
\nrelated to the reimbursement of the interbank credits to Bank
\nBali.\"<\/p>\n
Sjahril said the payment to Bank Bali was in line with the
\ngovernment's full guarantee for bank deposits and claims.<\/p>\n
\"Bank Bali actually claimed more than Rp 1 trillion in
\ninterbank loans from IBRA, but not all of the loans met the terms
\nand conditions of the guarantee scheme.\"<\/p>\n
He said the central bank thoroughly assessed claims for
\nreimbursement.<\/p>\n
\"Interbank loans which turn out to be used by the owners of
\nthe bank creditor themselves obviously will not be repaid under
\nthe guarantee scheme because they violate the rules on connected
\nlending.\"<\/p>\n
He said IBRA also paid claims from other banks under the
\nguarantee scheme.<\/p>\n
Bank Bali, taken over by IBRA on July 23, was put under the
\nmanagement of Standard Chartered Bank in an investment agreement
\nsigned on July 26.<\/p>\n
Leading opposition politicians and economists urged the
\ngovernment on Tuesday to thoroughly investigate the alleged
\nscandal involving Bank Bali, IBRA and Golkar officials.<\/p>\n
Yusuf Faisal, head of the economic department of the National
\nAwakening Party (PKB), said that confidence in the economy could
\ntumble again if the government failed to completely and
\ntransparently resolve the matter.<\/p>\n
\"Foreign investors will be scared to come here because this
\nkind of collusion between IBRA and Golkar officials reflects the
\nlack of legal certainty,\" he said on the sidelines of a seminar
\non economy.<\/p>\n
Yusuf said IBRA must be free of corruption and collusion
\nbecause the agency's mission was to raise state revenues through
\nthe restructuring and sale of the huge amount of assets under its
\ncontrol.<\/p>\n
IBRA possesses about Rp 600 trillion worth of assets from
\nrecapitalized, nationalized and closed banks. The agency's task
\nis to raise Rp 17 trillion for the state budget in the current
\nfiscal year alone, and at least Rp 34 trillion next year.<\/p>\n
Banking legal expert Pradjoto alleged last week that IBRA
\ndeputy chairman Pande Lubis colluded with Setya Novanto and
\nbusinessman Djoko Chandra to pressure Bank Bali to pay
\ncommissions for assistance in recouping Rp 3 trillion ($441.2
\nmillion) in interbank claims for liquidated Bank BDNI, Bank Bira
\nand Bank Umum Nasional.<\/p>\n
Pradjoto said Bank Bali was forced to ask for the assistance
\nof the three businessmen because of difficulties in recouping the
\nclaims.<\/p>\n
Under the government's blanket guarantee program, however,
\nIBRA is required to cover all the legitimate obligations of
\nclosed banks, except to shareholders.<\/p>\n
Pradjoto said IBRA reimbursed Bank Bali for about Rp 900
\nbillion on June 2, and paid Rp 550 billion in commissions to the
\nthree men the following day.<\/p>\n
IBRA public relations officer Franklin Richard confirmed on
\nMonday that the agency transferred about Rp 904 billion to Bank
\nBali on June 1.<\/p>\n
Pradjoto alleged that part of the fee was transferred to
\nGolkar.<\/p>\n
In the gutter<\/p>\n
\"If this is true, it is humiliating for IBRA, bringing its
\nintegrity and reputation down in the gutter,\" said Pande Raja
\nSilalahi, an economist at the Center for Strategic and
\nInternational Studies (CSIS), a leading private think tank.<\/p>\n
\"The agency must clarify these accusations to the public.\"<\/p>\n
Noted economist and former Cabinet minister Emil Salim agreed,
\nsaying the House of Representatives should summon finance
\nminister Bambang Subianto.<\/p>\n
\"In fact, the Election Supervisory Committee (Panwaslu) should
\nalso start investigating Golkar,\" Emil said.<\/p>\n
IBRA's top officials, including its chairman Glenn S. Yusuf,
\nhave so far declined to meet the media.<\/p>\n
\"If he (Glenn) can't be open about this, he should resign,\"
\nYusuf Faisal said.<\/p>\n
\"There's no reason or excuse for him to disclaim any knowledge
\nof the reported scam.\"<\/p>\n
Meanwhile, secretary-general of the National Mandate Party
\n(PAN) Faisal Basri said that Bambang Subianto, Coordinating
\nMinister for Economy, Finance and Industry Ginandjar Kartasmita
\nand President B.J. Habibie also should take responsibility if the
\nallegations prove true.<\/p>\n
\"If this (the allegation) is true, the President has to resign
\nand Golkar has to be liquidated.\"<\/p>\n
He warned that foreign investors would shun the country if the
\nallegations were proved, which could force IBRA to sell its bank
\nassets at vastly reduced prices.<\/p>\n
Separately, Setya Novanto denied on Tuesday the allegation
\nthat Golkar was involved in his arrangement with Bank Bali.<\/p>\n
He described it as a \"purely business\" deal between Bank Bali
\nand his trading and investment firm PT Era Giat Prima (EGP),
\nwhich was established in the middle of last year.<\/p>\n
Novanto told a news conference that Bank Bali enlisted his
\ncompany to assist in securing repayment of the credits by IBRA
\nafter it encountered difficulties in its own efforts.<\/p>\n
He declined to disclose his company's fee.<\/p>\n
Golkar chairman Akbar Tandjung also denied on Tuesday that the
\nparty was involved in the transaction.<\/p>\n
\"It is the personal affair of Setya Novanto,\" he told the
\nprivate SCTV TV station in an interview.<\/p>\n
Akbar said Golkar was ready to be audited concerning the
\nallegations. (rei)<\/p>",
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