The delightfully named Bank Iffy, owned by the FBR loving, Suharto-clan cock sucking owner of the McDonalds food chain franchise in Indonesia, has gone tits up apparently.
The delightfully named Bank Iffy, owned by the FBR loving, Suharto-clan cock sucking owner of the McDonalds food chain franchise in Indonesia, has gone tits up apparently.
place within us love that truly gives, tenderness that truly unites, self-offering that tells the truth and does not deceive, forgiveness that truly receives, loving physical union that welcomes
i thought the McDonalds franchise owner died while a fugitive in australia some years ago...
i thought the McDonalds franchise owner died while a fugitive in australia some years ago...
KuKuKaChu: dangerously too sophisticated
A fugitive from the law for selling alleged food?
A fugitive from the law for selling alleged food?
place within us love that truly gives, tenderness that truly unites, self-offering that tells the truth and does not deceive, forgiveness that truly receives, loving physical union that welcomes
Jakarta Globe
BI Closes Troubled Bank IFI

IFI by name is now perhaps iffy by nature, after the central bank on Friday abruptly closed troubled PT Bank IFI, because the retail lender was judged unable to cope with mounting bad loans and a lack of operating capital.

PT Indonesia Finance and Investment Bank, as the lender is legally known, is the third Indonesian financial institution to collapse since the deepening of the global financial crisis, following the implosion of PT Bank Century Tbk and rural lender PT Bank Tripanca.

Bambang H. Rachmadi, a son-in-law of the late Sudharmono, a vice president under Suharto, in 1995 bought 73 percent of Bank IFI, a small Jakarta-based lender.

Bambang was one of three suspects formally named in a 1999 attempt to embezzle Rp 40 billion ($3.76 million) from PT Jamsostek, the state pension and social security provider. He and two Jamsostek directors escaped prosecution after they paid back the money, authorities said.

The national franchise holder of McDonald’s restaurants in Indonesia, Bambang has also served an economic adviser to the Betawi Brotherhood Forum, a youth organization that has been criticized for using heavy-handed tactics against its critics.

Wimboh Santoso, BI’s bureau chief of financial system stabilization, said Bank IFI had been under the central bank’s supervision since 2002. When it was closed, the bank had a capital adequacy ratio below Bank Indonesia’s
8 percent requirement and a nonperforming loan ratio of more than 24 percent.

“We were worried that the longer we allowed the bank to operate, the bigger the losses would get, to the point where it would have an impact on other lenders,” Wimboh said. “That’s why we decided to liquidate the bank.”

BI said that the lender’s third-party funds amounted to just
Rp 355 billion, with assets of
Rp 440 billion. This represents only 0.01 percent of the domestic banking sector and thus poses no systemic risk, it said. It operated six Jakarta branches and had only six automated teller machines.

In contrast, BI and the government rescued Bank Century from liquidity problems because of its threat to the system. Bank IFI, it appears, was too small to save, rather than too big to fail.

Drajad Wibowo, a member of Commission XI in the House of Representatives, which oversees finance and budget issues, said that although the bank was not a threat to the broader banking sector, its closure could have a negative impact on customer
confidence.

“The bank has been in trouble for a long time. They should have shut it down earlier,” Drajad said. “BI tends to give more room to troubled banks. Now it has to combat negative sentiment from Bank IFI’s closure.”

He urged the authorities to ensure that all of Bank IFI’s problems were taken care of, to ease consumer fears about the banking system.

The Deposit Insurance Corporation said it had budgeted more than Rp 200 billion to reimburse the Bank IFI’s customers. Firdaus Djaelani, chairman the agency, said it would take 90 days to verify creditors.

In the wake of the Bank IFI collapse, Purbaya Yudhi Sadewa, an economist at the state-owned Danareksa Research Institute, said the global crisis was pressuring smaller lenders who were having difficulty securing access to fresh liquidity.

Djuniman, an economist at
PT Bank Internasional Indonesia Tbk, said the failure of the three small banks could have an impact on other small banks, as customers gravitate toward the safety of bigger institutions.
Jakarta Globe<br /> BI Closes Troubled Bank IFI<br /> <br /> IFI by name is now perhaps iffy by nature, after the central bank on Friday abruptly closed troubled PT Bank IFI, because the retail lender was judged unable to cope with mounting bad loans and a lack of operating capital.<br /> <br /> PT Indonesia Finance and Investment Bank, as the lender is legally known, is the third Indonesian financial institution to collapse since the deepening of the global financial crisis, following the implosion of PT Bank Century Tbk and rural lender PT Bank Tripanca.<br /> <br /> Bambang H. Rachmadi, a son-in-law of the late Sudharmono, a vice president under Suharto, in 1995 bought 73 percent of Bank IFI, a small Jakarta-based lender.<br /> <br /> Bambang was one of three suspects formally named in a 1999 attempt to embezzle Rp 40 billion ($3.76 million) from PT Jamsostek, the state pension and social security provider. He and two Jamsostek directors escaped prosecution after they paid back the money, authorities said.<br /> <br /> The national franchise holder of McDonald&rsquo;s restaurants in Indonesia, Bambang has also served an economic adviser to the Betawi Brotherhood Forum, a youth organization that has been criticized for using heavy-handed tactics against its critics.<br /> <br /> Wimboh Santoso, BI&rsquo;s bureau chief of financial system stabilization, said Bank IFI had been under the central bank&rsquo;s supervision since 2002. When it was closed, the bank had a capital adequacy ratio below Bank Indonesia&rsquo;s<br /> 8 percent requirement and a nonperforming loan ratio of more than 24 percent.<br /> <br /> &ldquo;We were worried that the longer we allowed the bank to operate, the bigger the losses would get, to the point where it would have an impact on other lenders,&rdquo; Wimboh said. &ldquo;That&rsquo;s why we decided to liquidate the bank.&rdquo;<br /> <br /> BI said that the lender&rsquo;s third-party funds amounted to just<br /> Rp 355 billion, with assets of<br /> Rp 440 billion. This represents only 0.01 percent of the domestic banking sector and thus poses no systemic risk, it said. It operated six Jakarta branches and had only six automated teller machines.<br /> <br /> In contrast, BI and the government rescued Bank Century from liquidity problems because of its threat to the system. Bank IFI, it appears, was too small to save, rather than too big to fail.<br /> <br /> Drajad Wibowo, a member of Commission XI in the House of Representatives, which oversees finance and budget issues, said that although the bank was not a threat to the broader banking sector, its closure could have a negative impact on customer<br /> confidence.<br /> <br /> &ldquo;The bank has been in trouble for a long time. They should have shut it down earlier,&rdquo; Drajad said. &ldquo;BI tends to give more room to troubled banks. Now it has to combat negative sentiment from Bank IFI&rsquo;s closure.&rdquo;<br /> <br /> He urged the authorities to ensure that all of Bank IFI&rsquo;s problems were taken care of, to ease consumer fears about the banking system.<br /> <br /> The Deposit Insurance Corporation said it had budgeted more than Rp 200 billion to reimburse the Bank IFI&rsquo;s customers. Firdaus Djaelani, chairman the agency, said it would take 90 days to verify creditors.<br /> <br /> In the wake of the Bank IFI collapse, Purbaya Yudhi Sadewa, an economist at the state-owned Danareksa Research Institute, said the global crisis was pressuring smaller lenders who were having difficulty securing access to fresh liquidity.<br /> <br /> Djuniman, an economist at<br /> PT Bank Internasional Indonesia Tbk, said the failure of the three small banks could have an impact on other small banks, as customers gravitate toward the safety of bigger institutions.
place within us love that truly gives, tenderness that truly unites, self-offering that tells the truth and does not deceive, forgiveness that truly receives, loving physical union that welcomes
Originally Posted By: KuKuKaChu
i thought the McDonalds franchise owner died while a fugitive in australia some years ago...


McDonald's Indonesia franchise boss is Bambang Rachmadi, the son-in-law of Suharto era vice president Sudharmono. In 2002 police wanted to question him as a suspect over his role in the embezzlement of Rp40 billion from Jamsostek (state-run Workers’ Social Security Fund). He was afraid of being questioned so he fled to Australia. He eventually returned to Indonesia for cursory questioning by police after a deal had been reached not to charge him.

The fugitive Indonesian banker who died in Australia was Hendra Rahardja, the boss of Bank Harapan Sentosa. He fled Indonesia in 1997 and was later convicted of embezzling Rp1.95 trillion in Bank Indonesia liquidity support funds. He was sentenced in absentia to life imprisonment. He died in Sydney in January 2003.
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: KuKuKaChu</div><div class="ubbcode-body">i thought the McDonalds franchise owner died while a fugitive in australia some years ago... </div></div><br /> <br /> McDonald's Indonesia franchise boss is Bambang Rachmadi, the son-in-law of Suharto era vice president Sudharmono. In 2002 police wanted to question him as a suspect over his role in the embezzlement of Rp40 billion from Jamsostek (state-run Workers&rsquo; Social Security Fund). He was afraid of being questioned so he fled to Australia. He eventually returned to Indonesia for cursory questioning by police after a deal had been reached not to charge him.<br /> <br /> The fugitive Indonesian banker who died in Australia was Hendra Rahardja, the boss of Bank Harapan Sentosa. He fled Indonesia in 1997 and was later convicted of embezzling Rp1.95 trillion in Bank Indonesia liquidity support funds. He was sentenced <span style="font-style: italic">in absentia</span> to life imprisonment. He died in Sydney in January 2003.
Originally Posted By: kenyeung
Originally Posted By: KuKuKaChu
i thought the McDonalds franchise owner died while a fugitive in australia some years ago...


McDonald's Indonesia franchise boss is Bambang Rachmadi, the son-in-law of Suharto era vice president Sudharmono. In 2002 police wanted to question him as a suspect over his role in the embezzlement of Rp40 billion from Jamsostek (state-run Workers’ Social Security Fund). He was afraid of being questioned so he fled to Australia. He eventually returned to Indonesia for cursory questioning by police after a deal had been reached not to charge him.

The fugitive Indonesian banker who died in Australia was Hendra Rahardja, the boss of Bank Harapan Sentosa. He fled Indonesia in 1997 and was later convicted of embezzling Rp1.95 trillion in Bank Indonesia liquidity support funds. He was sentenced in absentia to life imprisonment. He died in Sydney in January 2003.


burger king upsize all the way
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: kenyeung</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: KuKuKaChu</div><div class="ubbcode-body">i thought the McDonalds franchise owner died while a fugitive in australia some years ago... </div></div><br /> <br /> McDonald's Indonesia franchise boss is Bambang Rachmadi, the son-in-law of Suharto era vice president Sudharmono. In 2002 police wanted to question him as a suspect over his role in the embezzlement of Rp40 billion from Jamsostek (state-run Workers&rsquo; Social Security Fund). He was afraid of being questioned so he fled to Australia. He eventually returned to Indonesia for cursory questioning by police after a deal had been reached not to charge him.<br /> <br /> The fugitive Indonesian banker who died in Australia was Hendra Rahardja, the boss of Bank Harapan Sentosa. He fled Indonesia in 1997 and was later convicted of embezzling Rp1.95 trillion in Bank Indonesia liquidity support funds. He was sentenced <span style="font-style: italic">in absentia</span> to life imprisonment. He died in Sydney in January 2003. </div></div> <br /> <br /> burger king upsize all the way
quips,gibes and irony all form part of my repartee
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