Showing posts with label sanctions. Show all posts
Showing posts with label sanctions. Show all posts

Monday, June 25, 2012

INDONESIA - BANKING - BI tightens sanctions on Islamic banks for violations fit and proper test

www.bisnis.com - JAKARTA: Bank Indonesia to tighten sanctions on the Islamic banks and Islamic business units related offenses committed in the implementation of a fit and proper test for prospective directors, commissioners, and the controlling shareholder.
It is stipulated in Bank Indonesia 14/6/PBI/2012 number of fit and proper test and Islamic Banking Sharia is valid from June 18 last.
Eddy Setiadi, Executive Director Islamic Banking Department of Bank, said the tightening of rules regarding the fit and proper test in Islamic banks have to follow the provisions applicable in the conventional first.
"Management of the bank knows exactly behind the scenes is a person who is the owner, directors and commissioners. If the person does not properly manage the bank, we must act decisively, "he told Business, Friday (22/06/2012). (source)