Indonesian clamp-down prompted by foreign bank misconduct

Author: | Published: 3 Jun 2011

The Indonesian government’s plans to tighten regulatory control of foreign banks is a likely consequence of recurring misconduct by international financial institutions.

Gatot M Suwondo, chairman of the Indonesian Association of State-owned Banks and president director of Bank Negara Indonesia, said last week that Indonesian banks faced unfair treatment overseas when setting up branches. He asked authorities to...