The Jakarta Post
Bank Indonesia (BI) has received an approval from the House of Representatives to contribute US$5 million in equity to the newly established International Islamic Liquidity Management (IILM) to support the country’s growing Islamic banking sector.Money talks: Bank Indonesia Governor Darmin Nasution (left) talks with Achsanul Qosasi, the vice chairman of the House of Representatives’ Commission IX overseeing banking and financial affairs, before a meeting at the House on Monday. JP/R. Berto Wedhatama The approval was formally made during a hearing between Bank Indonesia and the legislators on Monday.
During the hearing, BI governor Darmin Nasution said that with the equity participation of $5 million, the central bank would have five shares each worth $1 million in the institution.
Darmin said BI would become a member of the governing board in the institution which it an...