Financial Times

CB says new bank to take over failed Pramuka
The Central Bank told the Appeal Court last week that the government has decided to set up a special Savings Bank to take over the assets and liabilities of the failed Pramuka Bank.

This came when the Pramuka Savings and Development Bank (PSDB) Depositors’ case against the Central Bank was taken up in the Court of Appeal. Lawyers for the Bank said they have been informed by the Ministry of Finance that the government has decided to set up a Special Savings Bank to take over Pramuka’s assets and liabilities.

The Central Bank said the proposal of the government, which is under consideration in its implementation, would have a material bearing upon some of the substantial issues raised in the case where Pramuka depositors are suing the regulator. Pramuka depositors have been battling for at least two years to revive the bank.

Back to Business