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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Indonesia bans Bank Century executives from traveling abroad AFP - Sunday, November 23 JAKARTA (AFP) - - Indonesia Saturday banned executives of an ailing Bank, which has been bailed out by the government to save it from collapse, from travelling abroad. The state-owned deposit guarantee agency took control of Bank Century on Friday, the first such move since the 1997-98 financial crisis. "The ban is based on a request from the Finance Ministry on Friday. All the directors and commissioners of the bank have received a travel ban for six months," immigration official Bambang Soedjatmiko was quoted as saying by Detikcom news website. He said the ban applied to several bank executives, including co-founder Robert Tantular. The bank, which had a clearing payment problem last week, was closed for business Friday but is due to resume operations Monday. Bank Century, one of the country's smallest, was rumoured to be facing a liquidity shortage after it failed to settle an interbank obligation, but the lender said it merely had an administrative problem that delayed the payment. The deposit guarantee agency, which agreed to inject "temporary funds" into the bank to boost its equity capital to loans ratio, will run the bank until it finds a buyer. The authorities have appointed Maryono of Bank Mandiri, Indonesia's largest lender by assets, as interim president of Century. In its press release, Bank Mandiri stated that it had no interest in buying shares nor committed in injecting funds in the ailing bank. Bank Century had 1.2 billion dollars in assets as of September 30. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Screen Actors Guild to seek strike authorizationAP - 1 hour 40 minutes ago TOPWRAP 3-Obama sees long haul ahead, China offers helpReuters - Sunday, November 23 Investor fear remains deep despite 1-day rallyAP - Sunday, November 23 Indonesia bans Bank Century executives from traveling abroadAFP - Sunday, November 23 APEC leaders endorse ban on protectionist measuresAP - Sunday, November 23 Enlarge Photo Indonesia bans Bank Century executives from traveling abroad Most Popular – Business Viewed New strain of deadly Ebola virus discovered Merkel warns 2009 will be 'year of bad news' for economy Wall Street plunges again as panic spreads Aussie mayor wins sexist 'award' for inviting ugly women to town Over 200 narwhal trapped in Canadian ice View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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