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Corporate Governance of Banks in Indonesia

Corporate Governance of Banks in Indonesia

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Published by: Muhammad Arief Billah on Jul 11, 2008
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Corporate Governance of Banks in Indonesia
May 2005
PT. UFJ Institute IndonesiaForum for Corporate Governance in Indonesia
 
Contributor & Research Team:
Takuji Kameyama (UFJI)Vita Diani Satiadhi (UFJI)Antonius Alijoyo (FCGI)Elmar Bouma (FCGI)
The views expressed in this paper are the views of the authors and do not necessarily reflectthe views or policies of the Asian Development Bank Institute (ADBI), the Asian DevelopmentBank (ADB), or its Board of Directors, or the governments they represent. ADBI does notguarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent withADB official terms.
 
Corporate Governance of Banks in Indonesia
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 Table of Contents
LIST OF ACRONYMS1. INTRODUCTION…………………………………………………………… 42. EVOLUTION AND RETSRUCTURING OF THE BANKING SECTOR… 7
2.1 Overview of Banking Sector after Crisis………………………………………... 72.2 Ownership Structure of Banks before and after Crisis…………………………..102.3 Policy Efforts for Enhancing Corporate Governance of Banks…………………13
3. ROLES OF SAFETY NETS AND PRUDENTIAL REGULATION………. 18
3.1 Depositor Protection before and after Crisis……………………………………. 183.2 Other Financial Safety Nets……………………………………………………… 203.3 Strength of Prudential Supervision……………………………………………… 24
4. INTERNAL CORPORATE GOVERNANCE MECHANISM……………… 26
4.1 Unique Features of Corporate Governance for Banks……………………………264.2 The Questionnaire Survey……………………………………………………….. 274.3 Description of the Survey Result………………………………………………... 294.4 Summary on the Effectiveness of Internal Corporate Governance………………36
5. ROLES OF THE MARKETS IN DISCIPLINING BANKS………………… 38
5.1 Overview of Composition in Banking and Operational Performance...................385.2 Role of Stakeholders in Disciplining Bank …………………………………….. 415.3 Bank Ownership and Bank Performance .…………………………….………… 475.4 Summary of Main Findings……………………………………………………. . 48
6. CONCLUSION.................................................................................................. ...49APPENDIX 52REFERENCE 56
 
Corporate Governance of Banks in Indonesia
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ACRONYMS
ADB : Asian Development BankAPI : Arsitektur Perbankan Indonesia,
Indonesian Banking Architecture
 Bank EXIM : Bank Expor Impor BAPEPAM : Badan Pengawas Pasar Modal,
the Capital Market Supervisory Agency 
 BAPINDO : Bank Pembangunan IndonesiaBBD : Bank Bumi DayaBCA : Bank Central AsiaBDNI : Bank Dagang Nasional IndonesiaBI : Bank Indonesia,
The Central Bank of Indonesia
 BII : Bank Internasional IndonesiaBLBI : Bantuan Likuiditas Bank Indonesia,
Bank Indonesia Liquidity AssistanceLoan
 BoC : Board of CommissionersBoD : Board of DirectorsBRI : Bank Rakyat IndonesiaBTO : Bank Take Over BUN : Bank Umum NasionalCAR : Capital Adequacy RatioCEO : Chief Executive OfficersERM : Enterprise Risk ManagementGMoS : General Meeting of ShareholdersGOI : Government of IndonesiaIBRA : Indonesian Bank Restructuring AgencyIDR : Indonesian RupiahIMF : International Monetary FundJSX : Jakarta Stock ExchangeKLD : Kredit Likuiditas Darurat,
Emergency Liquidity Credit 
 LDR : Loan to Deposit RatioLLL (3L) : Legal Lending LimitLPS : Lembaga Penjamin Simpanan,
Deposit Insurance Company 
 MOF : Ministry of FinanceMRA : Master of Restructuring AgreementMSAA : Master of Settlement and Acquisition AgreementNCCG : National Committee of Corporate GovernanceNPL : Non Performing LoanOECD : Organization for Economic Cooperation and DevelopmentOJK : Otoritas Jasa Keuangan,
Financial Supervisory Authority 
 OPT : Operasi Pasar Terbuka,
Open Market Operation
 PT : Perusahaan Terbatas,
Limited Liability Company 
 ROA : Return on AssetsROE : Return on EquitySBI : Sertifikat Bank Indonesia,
Bank Indonesia Certificate
 SBPU : Surat Berharga Pasar Uang,
Money Market Securities
 SOEs : State Owned EnterprisesSOL : Subordinated LoanUP3 : Unit Pelaksana Penjaminan Pemerintah

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