Bank Mandiri's lack of transparence

Bank Mandiri's lack of transparence

The statement issued recently by Bank Mandiri's chief
director, Robby Djohan, that the time hasn't yet come for his
bank to disclose the names of its bad debtors constitutes a new
phenomenon in this time of reform in the financial services
sector, when the principle of transparence for the sake of
rehabilitating the national banking sector is being touted.

It would be most naive and absurd for the Bank Mandiri
management to try to conceal the problems they are actually
facing. After all, banks, as institutions that depend on the
public's trust, should cherish the principle of reasonable
openness, especially if indications of the misuse of funds are
found.

We hope Robby will change his stance because it is on his
shoulders that the good standing and credibility of Bank Mandiri
rest. As an "outsider" (a former private banker) he might be in a
better position to take the strict measures needed to repair the
poor reputation that often clung to state-owned banks in the
past.

-- Bisnis Indonesia, Jakarta