Vice President Jusuf Kalla said Monday he did not approve of the November 2008 bailout of Bank Century, as its failure was caused by criminal acts and not the global financial crisis.
"In response to reports from the finance minister and the governor of Bank Indonesia [BI], I said the case of Bank Century did not result from the crisis, but because its owners robbed it. Therefore, BI needed to take firm action," Kalla said in a press conference.
"I asked the BI governor, Boediono, to report this case to the police, to arrest [Century owner] Robert Tantular and the other directors who were responsible for the misuse of assets. But BI did not dare do it, saying there was no legal foundation to do so," he said.
Kalla then reported the case to the Police, who quickly made arrests.
The vice president also said BI failed to properly supervise Bank Century.
"Century's case was a criminal case because the bank's owners robbed their own bank and took people's money abroad. There were also invaluable bonds there, because BI did not oversee the bank properly."
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