Bank Century waits for Antaboga legal status

PT Bank Century Tbk claimed to be ready to return the fund for PT Antaboga Delta Sekuritas product in case it has legal responsibility to the case.
But, the company should have not taken any responsibility for returning the fund of the product sales as it did not involve in the non bank product sales.
Since 2006, the company has cut off the cooperation with Antaboga and has no links to the product sales here.
The House of Representative's Commission IX member Dradjad Hari Wibowo said the parliament plans to summon Bank of Indonesia (BI) and the Capital Market and Finance Institution Supervisory Agency (Bapepam-LK) in response to the alleged fund swap from Bank Century to Antaboga and PT Signature Capital Indonesia.
Dradjad considered BI and Bapepam have obligation to secure the customers.
He said the similar case had happened several times including that of the case with Bank Global so that BI and Bapepam could be considered incompetent to perform their supervisory and regulatory functions.
"BI should have taken rigid measures to the sales of nonbank financial products done by the customers with the higher promising return from deposit. It is impossible that they made the sales without coordination with the top management or bank owner."
Bapepam should have monitored the value development of a product. "Indonesian securities is just a small world. So, it sounds weird when an IDR1.5 trillion product could be barely seen the progress."
However, he admitted the two institutions could not deserve fully the blames given the fact that the customers should have been observant prior to their investment.