- VivaNews/ Nur Farida
VIVAnews - PT Bank Mandiri Tbk calls for Bank Indonesia to examine the restriction on foreign ownership in national banking in no time.
"We see that so far it is very easy for foreign banks to enter the Indonesian market. But when Bank Mandiri wants to expand overseas, it is not as easy as expected. For that matter, we hope that BI regulates the shares of foreign banks in Indonesia," said Haryanto on Thursday.
According to Haryanto, the central bank is studying three issues regarding the restrictions on foreign shares. First, foreign banks own as much as 99 percent of shares in Indonesia. Secondly, foreign party is allowed to enter but can only own 51 percent of shares. Third, foreign party joins in and shares minor ownership at as low as 50 percent.
"With regard to those issues, BI in my opinion is still extremely provident in applying regulations. For if foreigners become minority shareholders, it is feared that they do not want to take responsibility if something happens to their banks in Indonesia," he said
"We demand equality between foreign banks and national banks so that if a bank in Indonesia wants to expand overseas it won't be hampered. Therefore, we are in support of Bank Indonesia to look at foreign ownership limits," he said.
As is known, as foreign banks easily enter and run their businesses in Indonesia, Bank Mandiri is still constrained in initiating banking services in several neighboring countries including Malaysia, Vietnam and Singapore.
In fact, to install an automated teller machine (ATM), the central bank authorities in Singapore impose very restrictive regulations.
"We plan to send a letter to the monetary authorities in Singapore. In addition, we request that the currently restricting condition can be made less tighter," said Managing Director of Bank Mandiri, Zulkifli Zaini.
Zulkifli said the constraints of opening a branch office in Singapore appear due to the strict rules applied by local central bank authorities.
For example, Singapore only allows foreign banks to open one office. In fact, the country prohibits foreign banks to receive savings of Singaporean citizens and to operate their own ATMs.
Bank Mandiri has established itself to become the first local bank that expands abroad. One of the efforts is to open branch offices in several countries in Asia.
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