Rumors panicked BCA customers

Rumors panicked BCA customers

From Neraca

The banking crisis is indeed still being felt today. Public trust in the banking sector has been on the decline as a consequence of the great number of troubled banks and the liquidation of 16 of them.

Will there be further liquidations of troubled banks? It would depend on the government which implements banking policies.

The monetary crisis in our economy gives us great cause for concern. Its impact penetrates all aspects of the national economy. This has made our society highly emotional.

In the media, there are always reports on crises. For example, the devalued rupiah a few months ago caused many people to buy dollars. Now the rupiah is gaining a stable position. Another report showed that some banks had a problem with bad debts. The public was immediately shaken into confusion.

Another example is the rumor of the demise of Soedono Salim (shareholder in BCA) along with the problem faced by BCA's Singapore branch which had lost in foreign exchange deals resulting in its liquidation. The information was incorrect or not entirely true. Why are reports with no proven truth immediately accepted in our society as accurate and true?

We have seen the results. BCA customers immediately rushed nearly all of BCA's branches in Indonesia to withdraw their money on a grand scale.

We should learn from the experience. We should select information. We should look for the roots and the causes of the problem from various sources. Eventually, the truth will come to light and we can remain on the right track.

ADE IWAN

Jakarta