Indonesia prepares four strategies to withdraw funds from Singaporean banks. (Illustration)

Govt: Four strategies to withdraw funds kept in Singapore

REPUBLIKA.CO.ID, BATAM - Indonesia's finance ministry is preparing four strategies to withdraw funds worth 1,500 trillion IDR kept in Singaporean banks. "We are preparing four strategies," remarked Deputy Minister of Finance Bambang Brodjonegoro on Wednesday. The four strategies are tax incentives, eradication of double taxation, encouraging the issuance of new financial industry products, and creating a special financial industrial zone.  "They are...

A customer uses ATM of Mutiara Bank in Jakarta. (file photo)

LPS on 1.5 trillion IDR bailout for Bank Mutiara

REPUBLIKA.CO.ID, JAKARTA - Deposit Insurance Agency (LPS) has agreed on bailout worth 1.5 trillion IDR for Bank Mutiara -the new name of the scandalous Bank Century. The bailout will be provided to meet the banking regulation on Internal Capital Adequacy Assessment Process (ICAAP). Bank Mutiara is still mired in a legal case over controversial bail out implicating a number of...