Since 2005 the Board of Deposit Insurance (LPS) had been liquidating 27 banks. These banks whose permit had been withdrawn were accused of moral hazard of the proprietor and management, who happened to be their own relatives. “Since 2005 we have liquidated 26 BPR’s and 1 bank (Bank IFI) All are cases of moral hazard of the proprietor and management, they are all relatives” this was disclosed by Chairman of the Board of Commissioner of LPS Rudjito in Jakarta (26/6).
Rudjito stated that in liquidating, LPS was only given one night deadline by Bank Indonesia “Bank Indonesia withdraws bank permit and IPS was give one night time to follow up the procedure be liquid dated or bail-out. Bank Century was an example. Rudjito stated that based on the considerations and data given by BI the bank owned by Robert Tantular was in the end being bailed out.
As with IFI bank, according to Rudjito further explained that all reconciliation and verification for Bank IFI has been 100% completed. “The case of Bank IFI has been settled and the verification 100% completed. Now they only have to wait for the liquidation team to run the auction, which has come to the stage of finalization. In case of BPR, they need not have to spend great expenses except for BPR Tripicana, which absorbed more than Rp. 300 million. For comparison, fund for Bank IFI did not reach Rp. 200 billion”.
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