INDONESIA - REGULATIONS - BI tightened sanctions fit & proper test Islamic banking

www.kontan.co.id - JAKARTA. Bank Indonesia (BI) issued new rules to tighten sanctions and consequences for those who did not pass the fit and proper test (Fit & Proper Test) Islamic Banking and Sharia.
Beleid 14/6/PBI/2012 a numbered regulation is mentioned, the period of sanctions was not associated with the actions that assessed the impact of the loss or potential loss of Islamic banks, but were associated with the type and frequency of offenses committed. In addition, there is an increase for the period of sanctions that do not comply with the Graduated no consequence.
Assessment is divided into two. Controlling Shareholders (PSP) BI is based on integrity and financial viability for the Controlling Shareholders (PSP). While for the Board of Commissioners, Board of Directors, Director of UUS, Leader of Foreign Bank Representative Office, and Executive Officers of the criterion is integrity, competence and financial reputation.  (source)

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)

INDONESIA - REGULATIONS - Bank Indonesia Issues Two New Islamic Regulations

JAKARTA (IFT) – Bank Indonesia will issue additional regulations on risk management by Islamic banks by the end of September 2011. Two additional regulations include, equity investment risk and rate of return risk, as well as the fit and proper test for Islamic bankers. (source)

INDONESIA - REGULATIONS - Will BI Revised Compliance Test and proper Islamic Banking

REPUBLIKA.CO.ID, JAKARTA - Bank Indonesia (BI) will soon revise the rules and proper test of the ability of Islamic banks. Director of the Directorate of Islamic Banking BI, Mulya Siregar, said the central bank would simplify the stages of the fit and proper test for Islamic bankers.

Although so far its provisions are different from the conventional, he said it would harmonize with the existing provisions in the conventional. "There used to be eight stages, now four," he said. (source)

REGULATIONS - BI to take strong measures against disobedient bankers

Jakarta (ANTARA News) - Bank Indonesia (BI) Governor Darmin Nasution said he would act firmly against bank executives who did not respect deals with or orders given by the central bank.

"The board members concerned will be summoned and ordered to undergo a fit and proper test again. The punishment could be that he or she would not be considered to have passed the test," he said here on Friday.

He said BI would impose the sanction if bankers broke the agreements or rules issued by the central bank, including the agreement on limits of deposit interest rates in big banks.