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| Oct 24, 2008 | |
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Jakarta to bail out Dutch bank
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| By Wahyudi Soeriaatmadja | |
| JAKARTA- INDONESIA'S Parliament yesterday gave the green light to the central bank to bail out its Dutch subsidiary Indonesische Overzeese Bank NV (Indover), a move that could cost it 546 million euros (S$1 billion).
'We have decided to support any measure necessary to save the economy, as long as it complies with regulations,' deputy head of the parliamentary commission on finance and banking Endin Soefihara told The Straits Times. Amsterdam-based Indover is the first Indonesian bank to fall victim to the global financial turmoil. Read Wahyudi Soeriaatmadja's full story in Saturday's edition of The Straits Times. | |
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