BANK CENTURY CASE SHOULD NOT BE SOLVED PARTIALLY

By Andi Abdussalam

Jakarta, Sept 21 (ANTARA) - After several months not heard of, the Bank Century case was raised once again by at least two lawmakers on Tuesday where law enforcers were urged to summon officials involved and solve the problem comprehensively.          The lawmakers raised the issue again after President Susilo Bambang Yudhoyono on Monday ordered government officials to make efforts to recover the assets of the bank. However legislators said that the recovery of Bank Century assets was not a priority in solving the problem but its legal case.          "The asset recovery is the fourth point in the recommendation of the House Special Committee on Century," Deputy Chairman of the House Special Committee on Century Mahfud Siddiq said here on Tuesday.          He said that the settlement of the legal aspect of Bank Century case should become a priority.          "The people are waiting for the settlement of the legal case of the bank, not its asset recovery as said by President Susilo Bambang Yudhoyono," Mahfud who is also secretary general of the Prosperous Justice Party (PKS), said.           He said that the bank's assets which were stashed abroad by Robert Tantular (century's owner) had been scheduled to be recovered in two years. Mahfud is of the opinion that Yudhoyono's statement which asked for intensive efforts to return the bank's assets was an effort to cover up the legal case of Bank Century.          "One should not exaggerate the asset recovery problems that could cause the legal process of the bank to sink into oblivion," he said.          The same voice was also aired by legislator Bambang Soesatyo of the Golkar Party. While he appreciated President Susilo Bambang Yudhoyono's statement which ordered the recovery of Bank Century's assets stashed abroad, Bambang Soesatyo hoped that the problem of Bank Century should be solved once for all.          "The settlement of the Bank Century case had better be made comprehensively," Bambang Soesatyo, member of the House of Representatives (DPR)'s Monitoring Team on the Century Case, said.          He said that the case must be settled comprehensively so that his team asked the Indonesian Police to investigate all former officials involved in the case.          Bambang Soesatyo mentioned the names of former Bank Indonesia (BI/the central bank)'s governor and the former finance minister among the officials who must be summoned and examined over the alleged banking crime and money laundering with regard to the Bank Century mega scandal.          "If we are serious about settling the problem it should not be tackled partially but comprehensively and firmly," Soesatyo said. This means that there should be no reluctance to do so because it involves a big case with huge funds amounting to trillions of funds.          "That's why all law enforcing agencies should have the courage to carry out the people's mandate in creating a democratic life which is truly respectable, civilized and smart," he said.          He said that the move by the president to order the recovery of the bank's assets overseas should be coupled with the settlement of other aspects which were more crucial for upholding justice in the country.           On Monday, President Susilo Bambang Yudhoyono said the government would make more effective efforts to regain the assets of the former Bank Century. He said the government would take two-way efforts to deal with the Century Bank case namely improving the performance of the bank which has been renamed Bank Mutiara and making the efforts to return  Bank Century's assets more effectively.          "We will do it simultaneously. On the one hand we will make Bank Mutiara thrive and on the other we will regain the Century Bank assets more effectively," he said at his office in connection with the problem.           He made the statement after receiving a report about the progress in the efforts to regain the assets of the Century Bank taken away by those involved in the case.          "I think efforts must be intensified. Integrated and joint efforts to regain the Bank Century assets abroad should be taken with a hope the results would be parallel with the court's ruling," he said.          President Yudhoyono said although Bank Mutiara had recorded  good growth that was not sufficient yet and therefore the two way efforts were still needed.          The chairman of the board of commissioners of the Deposit Insurance Agency (LPS), Rudjito, said that some local and foreign investors had expressed their interest to buy  Bank Mutiara.           He said the condition of the bank is improving with its total assets reaching Rp8 trillion up from minus Rp7 trillion at the takeover.          Bank  Mutiara, formerly Bank Century, was the only bank bailed out by the LPS at the time of crisis in 2008.          In late 2008,  Bank Century during the crisis faced  liquidity and default problems. It collapsed after its liquidity assets amounting to about Rp11.6 trillion were withdrawn, through its security firm Antaboga Delta Sekuritas, and stashed abroad by its owner Robert Tantular.          The ailing bank was than taken over by the Deposit Insurance Agency (LPS). The government later provided it with a bailout of Rp6.7 trillion through the issuance of  a Short-Term Funding Facility (FPJP) and  Temporary Capital Participation (PMS).          The amount provided was far higher than the Rp1.3 trillion then discussed with the House of Representatives (DPR).  Thus, the bailout sparked public criticism and questions as it was disbursed without approval of the House of Representatives (DPR).          The House of Representatives later set up an inquiry committee  to look into possible violations in the provision of the bailout.          At the end of their inquiry in at plenary session,  seven of the nine factions of the House in the committee,  mentioned that violations had been committed with regard to the issuance of the Short-Term Funding Facility (FPJP) and  Temporary Capital Participation (PMS).***1*** (T.A014/A/HAJM/22:00/H-YH) 21-09-2010 22:07:0