BI defends Riady’s banking comeback

Padang Indonesia has defended its decision to allow Mochtar Riady’s business empire to reenter the banking sector, saying the founder of the Lippo Group had passed a fit and proper test that took years to complete.

In response to concerns raised by legislators and analysts, BI deputy governor Halim Alamsyah said Friday that as the supreme banking authority, BI guaranteed the eligibility of a person or an institution to acquire a bank.

“If the person or institution has a negative track record, they will not be allowed to own a bank, the plan will fall through. I guarantee that,” Halim said.

Legislators and analysts raised doubts after BI last week granted a license to Kharisma Buana Nusantara (KBN) and Pikko Group to acquire shares in Bank Nationalnobu. Lippo controls 60 percent shares in KBN, with the rest held by Yantony Neo, CEO of Pikko Group. (est)


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