Banking, Indonesia updates

Guarantee of Bank Obligations Extended
  • Indonesia
  • 23 June 2000

Certain obligations of Indonesian banks participating in a special programme set up in 1999 are guaranteed by the state. Because the progamme will only come to an end when the IBRA terminates it, and so far it has not, the programme will continue until at least July 31 2000.

Banks Tested to be Fit and Proper
  • Indonesia
  • 16 June 2000

Bank Indonesia has issued a regulation that establishes a 'fit and proper' test for the banking sector. The test emphasizes the need for banks to be managed by competent, professional bankers with knowledge, experience and moral integrity.

Law on Secured Transactions Modernized
  • Indonesia
  • 29 March 2000

A new law on fiduciary guaranty has been enacted which brings Indonesia's law on secured transactions in line with other countries.

Dealing With the Financial Crisis
  • Indonesia
  • 28 January 2000

In order to re-establish confidence in the banking sector, the government has enacted a new law giving the central bank more authority to regulate, and another law to deal with foreign exchange rates and the movement of money.

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