INDONESIA - REGULATIONS - Maybank, CIMB can breathe a sigh of relief

www.btimes.com.my - CLOSE CALL: Indonesia’s 40pc single ownership restriction to affect only new investors
IT looks like the country's top two banks, Malayan Banking Bhd (Maybank) and CIMB Group, can heave a sigh of relief as they won't be subject to Indonesia's proposed new rules on bank ownership.

Reuters reported late yesterday that the Indonesian central bank planned to limit single ownership in its banks to 40 per cent, but only for new investments.

"This new regulation will only hold for new initiatives, new investments... there will not be a retroactive regulation," Halim Alamsyah, the central bank deputy governor responsible for banking supervision, told analysts on a conference call, the news wire said. (source)