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Don’t withdraw cash from banks urges Indonesia’s financial watchdog
- Thursday | 2nd July, 2020
JAKARTA (Reuters) – Indonesia’s financial watchdog on Wednesday urged customers not to withdraw excess cash from banks while it and the police investigate “irresponsible” social media posts about mid-sized Bank Bukopin. The Financial Services Authority (OJK) said viral social media videos urging customers to withdraw money from the bank would be investigated. Bank Bukopin said separately it would soon launch a rights issue with the backing of top shareholders, local conglomerate Bosowa and KB Kookmin Bank, part of South Korea’s KB Financial Group. It said KB Kookmin Bank would likely raise its stake to 37.6% after the rights issue from 22%. KB Kookmin Bank was not immediately available for comment.
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