Indonesia finance minister gives mandate to four banks to manage repatriated funds
Reuters
Published Jul 20, 2016 11:13PM ET
Indonesia finance minister gives mandate to four banks to manage repatriated funds
JAKARTA (Reuters) - Indonesia has given a mandate on Thursday to four banks to manage repatriated funds under a recently introduced tax amnesty program, Finance Minister Bambang Brodjonegoro said.
The four banks are PT Bank Mandiri Tbk (JK:BMRI), PT Bank Negara Indonesia Tbk (BNI) (JK:BBNI), PT Bank Rakyat Indonesia Tbk (BRI) (JK:BBRI) and PT Bank Central Asia Tbk (BCA) (JK:BBCA).
Mandiri, BNI and BRI are state-controlled.
Finance ministry official Robert Pakpahan previously said 18 banks had met the qualifications to manage funds from the tax amnesty. But banks still need to wait for an official appointment letter from the government to formalize the mandate.
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Written By: Reuters
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