Indonesian MPs say proposed new bank law should limit foreign ownership

JAKARTA (REUTERS) - Indonesian MPs said they want a new banking law, under discussion since late last year, to limit foreign ownership to a maximum of 50 to 51 per cent and suggested it could make it to the statute books by next year.

MPs have not publicly discussed a percentage figure before.

The comments by two senior parliamentarians come as debate rages over whether Singapore's DBS Group Holdings Ltd can press on with its year-old bid to buy Bank Danamon Indonesia Tbk PT, after the central bank gave it approval to take an initial 40 per cent stake.

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