Democrat: No Fault in Century Bailout

JAKARTA, KOMPAS.com - The Democratic Party fraction has stated their final view, read by Achsanul Qosasi, Tuesday evening. The substance of their view is consistent with the view from last February 8. The Democratic Party sees no violation in the policy that granted bailout for Century Bank.

The final view was read for about half an hour. The Democratic Party views that the temporary capital and the short term liquidity support (FPJP) granted by the Committee for Financial Sector Stability and the Deposit Insurance Agency are correct according to the applying laws.

"The fact shows that afterward, the crisis stopped and Indonesia survived it. The FPJP was correct according to the applying law, the government regulation-in-lieu-of-law No. 4/2008, regarding the financial system safety net."

He also justified the decision to declare Century Bank as a failed bank with systemic failure, which caused the state to lose a considerable amount of money. Regarding the disbursement from Century Bank to 112 public banks and also regarding the data from the Financial Transaction Analysis and Report Center, Achsanul stated that his party has found no disbursement to the Democratic Party's account or to the SBY-Boediono campaign team's as suspected.

Blame Century Bank's management

The Democratic Party's final view considers that the fault is with Century Bank's management and Bank Indonesia's (BI) chiefs during the acquisition and merger of Bank Pikko, Bank Danpac, and Bank CIC in 2001. "That the acquisition and merger of the three banks do have some problems and there were violations of BI regulations at that time. The lack of early anticipation caused Century Bank to make further violations."

Regarding Century Bank's faults, the Democrat fraction believes that the bank should be processed according to the laws and regulations. (Caroline Damanik/C17-09)