President to Summon Bankers

VIVAnews - President Susilo Bambang Yudhoyono will summon several bank directors. The request was in line with the recent hike in banks' interest rates in Indonesia.

"President [Yudhoyono] will summon bankers to be given direction so that banks can support the business community," said Head of Indonesian Young Entrepreneurs (HIPMI) Erwin Aksa, on Wednesday, Feb. 11.

HIPMI complained about the high interest rate amidst the global economic crisis. In fact, HIPMI still finds banks that are reluctant to cut interest rate.

According to Aksa, fund stimulation aiming at reducing the impact of the crisis should be supported by banking community.

HIPMI also protested that many young entrepreneurs, especially creative industry, are still having difficulties in obtaining access to banks concerning banking regulations. "Banks still position small and top entrepreneurs in a parallel position," he said.

Therefore, he requested the government to loosen banking regulation which has been under Bank Indonesia's authority. In addition, venture capital should be prepared as soon as possible because it should be allocated in the stimulation package in order to instigate the creative economy, which is not bankable. "Having no collateral in banks," he said. 

Translated by: Bonardo Maulana Wahono