The Supreme Audit Agency (BPK) announced on Monday that officials from Bank Indonesia (BI) had intentionally provided inaccurate data in order to legalize the disbursement of bailout to Bank Century, totalling Rp 6.7 trillion (US$710.2 million).
"BI's announcement that Bank Century was in trouble and needed a bailout was not supported by accurate and updated data about the bank," BPK Chairman Hadi Purnomo said at the House of Representatives office.
After being informed by BI that Bank Century was in trouble, the Financial System Stability Commitee (KSSK) handed over the bank to the Deposit Insurance Agency (LPS) which disbursed the bailout.
"BI and KSSK lacked clear criteria to determine a bank as a troubled bank. As a result, they disbursed up to Rp 6.7 trillion, far higher than the Rp 632 billion previously estimated to save Bank Century," Hadi said. (bbs)
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