Central Bank Investigates IFI Bank

VIVAnews - Bank Indonesia (BI) is investigating IFI Bank whose business license had been annulled in mid April 2009. The bank which was owned by entrepreneur Bambang Rachmadi had lacked capital.

"Now we are investigating whether or not there was embezzlement in IFI Bank," said BI Head of Banking Investigation Bureau Hendrikus Ivo in Jakarta on Tuesday, May 26.

Ivo said that he was invited to find the connection between IFI case and Century.

IFI Bank is still under on-going liquidation process.

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Translated by: Ariyantri E. Tarman