Learning from the BNI case

Learning from the BNI case

The loss of Rp1.7 trillion allegedly embezzled from the state- owned Bank Negara Indonesia (BNI) is no laughing matter.

The case has long been publicized and has been acknowledged by State Minister for State Enterprises Laksamana Sukardi.

Ironically however, why was such a great case not disclosed during the bank's general shareholders' meeting last June?

As a publicly-listed bank, it should be transparent in its management but the government seems to be covering up the case from the shareholders.

Banking is a business of trust. People invest their funds in a bank because they believe their funds would be safe and secure there.

However, if they see something wrong in the banking system, their trust in the banks would rapidly diminish.

Learning from the case of BNI, all managers should be more careful in managing their banks, including internal supervision.

The emergence of the case indicates that BNI's internal supervision is utterly weak.

Hopefully, BNI's problem will soon be overcome and those who are entangled in the case could face severe punishment.

-- Republika, Jakarta