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Indonesia will be more strict on foreign acquisition of banks: regulator

Published on Jul 2, 2014 11:45 AM

JAKARTA (Reuters) - Indonesia's financial services regulator will be more strict on foreign acquisitions of banks in Southeast Asia's largest economy and will prioritise agre

ements on market access with authorities in other countries, a top official told Reuters.

"Yes," Muliaman Hadad, chairman of the regulator's board of commissioners, said in a text message, when asked if it will be more stringent in giving its approval if there is no reciprocal agreement with the country of the potential acquirer.

"We will prioritize MOU (memorandums of understanding) and agreements with the authorities in each country," he added.

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