INDONESIA'S BPK TO DELIVER CENTURY BANK AUDIT REPORT BY OCT 1

Indonesia's Supreme Audit Board (BPK) will deliver an audit report on troubled Century Bank to the House of Representatives before October 1, 2009.

"We will finish the report and hand it to the House of Representatives before October 1, 2009," Chief of BPK Anwar Nasution said here on Friday.

Anwar explained BPK auditors were on the process of finalizing the audit report. Several related parties have been questioned namely Central Bank (BI), Financial System Stability Committee (KSSK), Deposit Insurance Corporation (LPS), the Capital Market and Non-Bank Financial Institution Supervisory Board (Bapepam-LK), as well as employees of Century Bank.

"Investigation has been running well. Our concern now is the limited time to finish the report, although more time is actually needed especially to check Century Bank`s cash flow," Anwar said.

Due to the time limitation, Anwar said, audit report given to the House of Representatives will be in the form of temporary report while the more complete one will be given to Corruption Eradication Commission (KPK).

"The report to KPK will be more complete because we still have time before BPK members` 2004-2009 tenure ends next October 19, 2009," said Anwar.

Some 20 auditors from BPK have been tasked to conduct investigation over Century Bank case.

The case of Century Bank surfaced when the Financial Sector Stability Committee (KSSK) on November 21, 2008 declared it as a failed bank.

On November 23, 2008, the Deposit Insurance Agency (LPS) disbursed a bailout fund of Rp1.3 trillion (US$135 million) as agreed by the House. But it turned out that the disbursement of the bailout funds took place three times and the funds had swelled to Rp6.7 trillion.