Mar'ie leads IBRA's committee

Mar'ie leads IBRA's committee

JAKARTA (JP): Former finance minister Mar'ie Muhammad has been
named chairman of the oversight committee of the Indonesian Bank
Restructuring Agency (IBRA).

Minister of Finance Bambang Sudibyo said on Monday his office
had also appointed Syafruddin Arsyad Temenggung as the oversight
body's secretary.

Syafruddin is concurrently secretary of the government's
Financial Sector Policy Committee (KKSK), which is chaired by
Coordinating Minister for the Economy, Finance and Industry Kwik
Kian Gie.

The government has further selected seven people from a field
of 20 candidates to be members of the oversight body. The seven
come from the banking, legal and management sectors and include
banking observer Pradjoto.

Sudibyo said the new oversight committee was tasked to improve
the performance of IBRA, which has been widely criticized for its
slowness in restructuring the banking sector.

The government set up IBRA in January 1998 to restructure
banks which ran into liquidity problems as a consequence of the
Asian financial crisis.