Sanctions
1. |
A bank that has not paid its premium within the prescribed timeframe shall be fined 0.5% (five over a thousand) of the total amount of unpaid premium for the period concerned.
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2. |
The fine is determined to be a maximum of 150% (one hundred fifty over a hundred) of the total amount of premium that must be paid for the period concerned.
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3. |
A bank that fails to pay the premium as a result of a correction shall be fined 0.5% (five over a thousand) of the amount of the premium’s deficit for each day of delayed payment and a maximum of 150% (one hundred fifty over a hundred) of the total premium that must be paid.
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4. |
A bank that submits its reports late shall be fined an amount of Rp1,000,000.00 (one million Rupiah) for each calendar day of delay for every report that should be submitted. The administrative fine shall be levied for a maximum period of 12 (twelve) months.
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5. |
Directors, commissioners, and/or bank shareholders of a bank that:
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6. |
The bank’s directors, commissioners, and shareholders who are responsible for causing the bank’s inability to meet its premium obligations within 12 (twelve) months from the time limit of the period concerned, shall be subject to a sentence of minimum 2 (two) years imprisonment and maximum 10 (ten) years imprisonment, with a minimum fine of Rp.2,000,000,000.- (Two Billion Rupiah) and a maximum fine of Rp.3, 000,000,000.- (Three Billion Rupiah).
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7. |
The shareholders, directors, board of commissioners, employees and/or other related party of the bank whose license has been revoked or is a bank under liquidation which is deemed to be uncooperative in terms of providing all necessary data and information needed by IDIC and/or the liquidation team shall be subject to a minimum of 1 (one) year imprisonment and a maximum of 3 (three) years imprisonment, and a minimum fine of Rp. 2,000,000,000.- (Two Billion Rupiah) and maximum fine of Rp 3,000,000,000.- (Three Billion Rupiah).
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8. |
Members of IDIC’s board of commissioners, the Chief Executive Officer and the employees, or other party appointed or approved by IDIC to carry out specific tasks who, in the course of performing their duties, fail to maintain the confidentiality of the documents, information, other proprietary data and work papers, in accordance with the prevailing laws and regulations, shall be subject to imprisonment for a minimum of 1 (one) year and a maximum of 3 (three) years, and a minimum fine of Rp 2,000,000,000.- (Two Billion Rupiah) and maximum fine of Rp 3,000,000,000.- (Three Billion Rupiah).
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9. |
Each person or entity that provides wrong, false and/or misleading data, information, and/or reports related to deposit insurance, shall be subject to a minimum of 1 (one) year imprisonment and a maximum of 3 (three) years imprisonment including a minimum fine of Rp 2,000,000,000.- (Two Billion Rupiah) and a maximum fine of Rp 3,000,000,000.- (Three Billion Rupiah).
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10. |
Each person or entity that declines to provide IDIC the data, information, and/or documents required in the course of IDIC’s duties and responsibilities shall be subject to a minimum of 1 (one) year imprisonment and a maximum of 3 (three) years imprisonment, and a minimum fine of Rp 2,000,000,000.- (Two Billion Rupiah) and a maximum fine of Rp 3,000,000,000.- (Three Billion Rupiah).
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