ID :
92839
Wed, 12/02/2009 - 20:32
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https://www.oananews.org//node/92839
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BI WORKING TO IMPROVE BANK SUPERVISION PROCEDURES
Jakarta, Dec 2 (ANTARA) - 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.
In the meeting Darmin was accompanied by deputy governors Mulyaman Hadad and Hartadi A Sarwono.
Darmin said the old SOP was very tight and therefore its process was very long but this had on the other hand slowed decision-making process.
"The SOP was made like that perhaps we did not want to be careless. The procedures however are very tight and long and therefore the process is slow," he said.
Darmin did not explain what would be changed, adding he would do it on another occasion.
He said this was one of the things that he had reported to the vice president during the meeting. In response to it "the vice president said it was very good," he said.
Asked if the case of former Bank Century was discussed at the meeting Darmin said that although it was touched no special discussion had been made. "There was no discussion on the substance," he said.
The case Bank Century bailout has become a topic of public discussions lately in the country after anti-corruption activists raised a possible fraud in the move.
The House of Representatives (DPR) has agreed to set up a special committee to investigate it.
Darmin said he had reported the country's latest economic development in the meeting. He said in the third quarter this year the country's economic growth reached 4.2 percent.
He said he believed the target of 4.3 percent at the end of the year would be achieved.
"The country's foreign exchange reserves until October reached US$64.5 billion and US$65 billion by the end of November. So at the end of the year they may reach US$66 billion meaning they are capable of financing 6.5 months of imports, repaying installments and interests," he said.
"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.
In the meeting Darmin was accompanied by deputy governors Mulyaman Hadad and Hartadi A Sarwono.
Darmin said the old SOP was very tight and therefore its process was very long but this had on the other hand slowed decision-making process.
"The SOP was made like that perhaps we did not want to be careless. The procedures however are very tight and long and therefore the process is slow," he said.
Darmin did not explain what would be changed, adding he would do it on another occasion.
He said this was one of the things that he had reported to the vice president during the meeting. In response to it "the vice president said it was very good," he said.
Asked if the case of former Bank Century was discussed at the meeting Darmin said that although it was touched no special discussion had been made. "There was no discussion on the substance," he said.
The case Bank Century bailout has become a topic of public discussions lately in the country after anti-corruption activists raised a possible fraud in the move.
The House of Representatives (DPR) has agreed to set up a special committee to investigate it.
Darmin said he had reported the country's latest economic development in the meeting. He said in the third quarter this year the country's economic growth reached 4.2 percent.
He said he believed the target of 4.3 percent at the end of the year would be achieved.
"The country's foreign exchange reserves until October reached US$64.5 billion and US$65 billion by the end of November. So at the end of the year they may reach US$66 billion meaning they are capable of financing 6.5 months of imports, repaying installments and interests," he said.
