November 2002 was the fall season for Indonesia’s banking sector and hopefully it is the only fall that Indonesia will ever experience. It all began in November 2002 with Bank Central Asia being sold to Farindo Investments (Mauritius) Ltd—a consortium set up by Djarum and Farallon. Following this, other banks were taken over by the Indonesian Bank Restructuring Agency (IBRA). In the same year, 51 percent of the government’s share in Bank Ni