Bank Indonesia

PT Bank Sinarmas operates Islamic business unit

PT Bank Sinarmas officially operates Islamic business unit (UUS) in order to meet customers’ needs will be Islamic banking services, as well as responding to business prospects in industry.

The inauguration is in Jakarta this afternoon along with the opening of a branch office on Jl sharia Teuku Cik Ditiro No. 29, Jakarta Pusat. UUS operational licenses were issued by the Bank Sinarmas Bank Indonesia on October 30, 2009.
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Bapepam-LK released vehicle insurance regulations

Bapepam-LK released vehicle insurance regulations

Capital Market Supervisory Agency and Financial Institution (Bapepam-LK) issued new regulations for motor vehicle insurance and is valid from March 1, 2010.

Chairman of Bapepam-LK Fuad Ahmad Rahmany said regulations issued December 31, 2009 was the reference element and the Pure Premium Cost Elements General Administration and Other Costs Business Line of Insurance on Motor Vehicles in 2010.
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BPK finds nine violations in Bank Century finances

The State Audit Board (BPK) has found at least nine alleged violations in its investigative audit on Bank Century finances, BPK member Hasan Basri said.

“With the findings of nine alleged violations, we have concluded that Bank Indonesia (BI/the central bank) did not give complete and comprehensive data to the finance minister before Bank Century was declared a failed bank with a possible systemic impact,” Hasan Basri said at a meeting with the House Inquiry Committee on the Bank Century case here on Wednesday.
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PPATK Submits Transaction Analysis of Century Case

The Financial Transaction Analysis and Report Center (PPATK) submitted the suspicious financial transaction analysis of Century Bank customers to the House of Rep.’s Century Bank inquiry special committee, Thursday.

The data was given in a sealed envelope was confidential based on the Supreme Court Ruling No. 148/MKA/XII/2009, dated December 14, 2009. The details of the analysis aren’t clear yet, however, the PPATK chief Yusuf Husein stated that there are 64 suspicious transactions from all the financial service providers involved, which concurs to the previous BPK report.
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Kalla optimistic Century case to be solved transparently

Former Vice President Jusuf Kalla has expressed optimism that the alleged corruption in the Bank Century bailout will be disclosed transparently.

“I am certain it will be disclosed transparently because that is what President Susilo Bambang Yudhoyono and Vice President Boediono also want,” Kalla said here on Wednesday.
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SMS Finance to issue Rp200 billion worth of bonds

Financing company PT Sinar Mitra Sepadan Finance (SMS Finance) plans to issue bonds worth Rp200 billion in January 2010 to finance its motorcycle credit financing business.

The bonds will be issued in three series, each maturing in 370 days, 2 years and 3 years, according to the company`s prospectus published on Wednesday.
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VP : Bank Century case should be settled soon

Vice President Boediono said the sooner the Bank Century case was settled , the better so that it would not create prejudices in society.

“I wish the law enforcers will not just wait. They need not wait for the result of the House inquiry . With or without the House inquiry , the legal process must take place so that the case can be immediately made clear and no prejudices will arise. The quicker it is settled, the better,” he said in a speech at the opening of a national conference on corruption eradication.
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BI : Foreign exchange reserves to reach US$66 billion

Acting governor of Bank Indonesia Darmin Nasution said he believed the country`s foreign exchange reserves could reach US$66 billion by the end of this year.

“We believe they could reach US$66 billion and so we would be able to finance 6.5 months of imports as well as repay debt installments and interests,” he said after meeting with Vice President Boediono here on Wednesday.
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BI working to improve bank supervision procedures

Bank Indonesia is working to improve its standard operation procedures for bank supervision to make it more responsive and quicker, the bank`s acting chief, Darmin Nasution, said here on Wednesday.

“We are still working to improve the SOP for bank supervision to make it more responsive,” the central bank`s senior deputy governor said after meeting with Vice President Boediono.
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Century Funds Flow

Century Funds Flow

A total of Rp 4.02 trillion or 59 percent of Capital Investment funds while Rp 6.76 trillion being poured Institution to the Bank Deposit Century used to pay the bank’s liabilities to the 8577 storage customers.

Furthermore, Rp 2.25 trillion or 33 percent of bank assets in the form of Century SUN / SBI, and the remaining Rp 490 billion or 8 per cent used to pay the inter-bank loans, FPJP, and others.
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