Does the Raid unfurled Controversy in Bank Indonesia Over Misused CSR Funds?

On Monday evening, Indonesia’s Corruption Eradication Commission (KPK), the anti-graft agency, did a raid at the headquarters of the Central Bank in Jakarta due to the indictments of misusing the CSR (Corporate Social Responsibility) Funds. Though this incident hasn’t been revealed or confirmed by the authorities of the bank, the spokesperson from the anti-graft agency has spoken about it.

It is reported that this incident had taken place just before the two-day meeting of the Bank’s policy meeting with the economists with no compromise in policy rates which will remain unchanged. 

“We can ensure that CSR or BI’s social programmes have strong regulatory governance and their decision-making process is through stages” said Perry Warijiyo, current Governor of Bank Indonesia and a well-known Indonesian Economist. He has been appointed for the second term in 2023 for his mastery over economics, macroeconomic, monetary policy. Previously, he had worked at the IMF (International Monetary Fund).

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The investigation took place to find out the details about the allocated fund based on the Bank Indonesia Budget of 1.6 trillion rupiah ($99.66 million) for the sectors which includes social programmes and projects, micro, small and medium-enterprises, price stabilisations. All these documents regarding this fund allocation and purpose had been submitted at the Parliament.

“The members of the bank were co-operative during the raid,” said the sources of the anti-graft agency to Reuters.