Century battle

Vice President Boediono said that as a citizen he was ready to be investigated over the Bank Century bailout case.

"The vice president is also a citizen. As a citizen, I am ready to be questioned," the vice president told a press conference after Friday prayers at his office.

He said the government’s decision to bail out the ailing bank at the time was an effort to overcome an emergency situation. At the time, he said, there was an extraordinary problem, including a liquidity problem.

Boediono said, if any criminal act had been committed in the bail-out process, it should be investigated, no matter who was involved.

Supreme Audit Agency (BPK) continues to study and collect additional data required for investigation audit process to rescue PT Bank Century Tbk, the then so-called Bank Mutiara, which is targeted to finalize by end of the year.

Based on the instrument prepared in the Government Regulation in lieu of Law (Perppu) of Finance System Security Networks (JPSK), the Finance System Stability Committee (KKSK) chaired by Finance Minister Sri Mulyani and approved by BI governor at the time, Boediono, has considered Bank Century as default bank and surrendered it to the Deposit Insurance Corporation (LPS) November 21, 2008.
With the potential reason to drive systemic effect, Bank Century was taken over by the government from November 2008 up to July 2009 with IDR6.72 trillion bailout fund.
The fantastic bailout fund then drew serious concern of the Legislatives. Let alone, the fund was disbursed twice February 3, 2009 worth IDR1.155 trillion and July 21, 2009 worth IDR630 billion following the disapproval given by the Parliament of Perppu JPSK December 18, 2008.