Century Scandal: Idrus Marham visited central bank`s headquarters
Idrus Marham said on the occasion the visit was intended to compare the situation in the field with the documents given by BI on the troubled Bank Century.
Idrus added the committee also wanted to gain more information from BI about the process followed in giving short-term liquidity support (FPJP) to Bank Century.
According to the results of an investigative audit conducted by State Audit Board (BPK), BI had processed the funds extension as part of the FPJP scheme.
Bank`Century`s capital adequacy ratio at the time was 2.35 percent while according to BI Regulation Number 10/26/PBI/2008 a bank had to have a CAR of minimally 8.0 percent to be eligible for the funding.
On November 14, 2008, BI changed the regulation allowing a bank with a positive CAR to apply for the funding. According to BPK although the Century Bank`s CAR at the time was below eight percent BI decided to extend Rp689 billion in FPJP funds to the bank in stages from November 14 to 18, 2008.
In the same month Bank Century also received funds from the LPS (Deposit Insurance Institute) amounting to Rp6.7 trillion.
"We asked BI officials to explain the reviewing of the BI (PBI) regulation which, at the time, was done in only five hours time," Idrus said.
During the visit to the BI headquarters, Idrus was accompanied by Maruarar Sirait, Adi Samsudin, Roma Hurmuzi and Muhammad Toha.
Meanwhile, 25 other House Bank Century Inquiry Committee members on Friday (Feb 12) left for visits to four big cities in Indonesia, namely Denpasar, Medan, Makassar and Surabaya to conduct investigations on alleged flows of Bank Century bailout funds to bank accounts in the four cities.
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