Weekly Business

Banking
Ownership Regulations Hold Up Bank Mutiara sale

The proposed sale of Bank Mutiara needs an easing in regulations governing the single ownership of banks and non-cash purchase mechanism, so that state owned banks can buy Bank Mutiara at a rational price, said Destri Damayanti, Bank Mandiri's economist. Plans to sell the bank have failed twice. If it fails for the fourth time, the bank will be sold to the highest bidder. Bank Mandiri's Preside

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