WEBODIGY Business & Finance Journal

Bank of Japan (Bank of Japan / BoJ) held its main rate at 0.1 percent level. No change in Japanese interest rates do to overcome deflation of the country that has the second largest economy on earth.

At the same time, the BoJ also revised estimate of economic growth will shrink by 2.5 per cent in this financial year until March before finally going to rebound by 1.3 percent next year.

“Japan’s economy took its main policy measures both within and outside the country. Although there is no momentum is sufficient to support recovery independently in domestic private demand,” he disclosed the BoJ said in a statement, as quoted by the AFP, Tuesday (26/1/2010 ).

In October, the BoJ has estimated the economic contraction of 3.2 percent in Japan where gross domestic product this year followed by a 1.2 percent expansion for next year.

Own central bank to maintain projected that Japan’s economy will see deflation during the next three years as returned from the worst downturn in decades. But the BoJ said that the possibility of prices going down than previously thought.

As for consumer prices fell 1.5 percent estimated in the current financial year, followed by a further decline in the next year by 0.5 percent and 0.2 percent next year.

In October it also projected consumer prices will fall from 1.5 percent this year, 0.8 percent next year, and 0.4 percent the year after that. “The bank admitted that it is the most important challenges for the Japanese economy to overcome deflation and back to a sustainable growth path with price menyetabilkan,” he added.

As is known, Japan stuck in a deflationary spiral for years after the asset price bubble that burst in early 1990. This is hitting corporate earnings and encourage consumers to delay purchases in the hope of further price falls.

The current global economic downturn and decline in commodity costs pushed the country back into deflation rate. Core consumer prices in November were recorded fall in year on year for the past nine months.

Former Vice President Jusuf Kalla, on Thursday, declared ready and willing to fulfill the call of the House of Representatives Committee Questionnaire related scandal Century Bank.

“I have not received a summons related to the Parliament the right questionnaire for the Century, but as a citizen I am required to meet the calls,” he said in Makassar, South Sulawesi, on Thursday.

About its readiness to answer questions that may be related to House members proposed that, Kalla insists that he will respond in accordance with the experienced and known.

“It all depends on what was asked later, angketnya committee also has not been established,” he said.

Right questionnaire was discussed at Century Consultative Body, the House of Representatives. Up to now more and more members of the House of Representatives supports the right of inquiry, even the Democratic Party faction which had not yet given dukngan, have expressed support.

According to the plan, the committee discussed the questionnaire Century Bank after it was decided at the plenary session of December 1, 2009.

For the formation of committees, each faction immediately submit the names of the committee as a candidate questionnaire totaling 30 people.

Thus, the committee can get to work questionnaire and answer the public doubts the government with the scandal of this Century Bank.

Bailout to save the Century Bank disbursed Boediono served as Vice Governor of Bank Indonesia (BI).

Boediono himself has expressed support for the right questionnaire for the case of granting bail Century Bank to the issue could become clear.

“I support the right of inquiry (Century Bank) and I’m sure the government can get through the process properly, because many can be explained in the forum (right Questionnaire) is,” said Vice President Boediono as a dialogue with Jakarta Foreign Correspondent Club (JFCC) Jakarta.

Vice President explained that at that time the government and BI have implemented a policy of “bailout” of Century Bank in accordance with existing legal corridor. According to the policy Boediono made considering the global crisis.

Meanwhile, the Association of the Society for humanity and Justice (Humanika) held a demonstration in front of the MPR / DPR, Thursday (26.11.2009) this afternoon.

Protesters urged and supported the use of questionnaires to investigate the rights flows Rp6, 7 trillion in the Century Bank. In addition, they also demanded legal action against officials who had issued a policy in the disbursement of bailouts

In the action, hundreds of people from various parts of students and society doll throwing two illustrated Finance Minister Sri Mulyani and Vice President Boediono with rotten tomatoes. They considered these two figures most responsible for the scandal bertagung Century Bank.

Koodinator action of Humanika, Sugeng Priadi said, “Essentially we encourage the board members to the right of this poll should not be stopped. Angket Century must pass in a plenary session.”

He admitted so appalled by the amount of money to people who digelontorkan these defaulted bank without any transparency. “Miris once Rp6, 7 trillion wasted, where the flight does not know. If the money was used to kesahatan, education, and others will be more beneficial,” Sugeng said.

According to him, Century Bank scandal is similar BLBI case, because the only benefit the officers or businessmen who rob people of money is so big.

“That’s what we demand. This should be completed. This is not to just get here, just a wind-wind course, pushed around, but after a committee formed diparipurnakan and it stuck,” explained Sugeng warned.

After doing the action almost one hour, the protesters later dispersed. Demo does not interfere with traffic flow around the Senayan the falling rain. From various sources

The scholars Nahdlatul Ulama (NU) has not one word or do not have the same opinion concerning the existence of Islamic banks, at least so that Halaqah raised in the Pre-Congress-32 NU Commission Waqi Maudlu “ iyah iyah.

The meeting was followed by the area manager NU envoy in Indonesia as well as institutional administrators, committee, and autonomous bodies NU, in Jakarta, Tuesday.

Vice Chairman of the Institute Takmirul Masajid Indonesia (LTMI) NU Mukhlas Syarkun rate, in some cases, Islamic banks were no different from conventional banks. In fact, he mentioned there was a violation of sharia in practice.

Mukhlas said Islamic banks are not familiar with flowers, but in practice the provision of credit, for example, introduced a system of collateral. Meanwhile, not all people, especially the poor, who can provide collateral to obtain credit.

“This is where Islamic banks could be called not shar` i because only people who can provide collateral to receive credit. While the very poor, no nothing, could not provide collateral, can not take credit, “he said.

Mukhlas was more in agreement with the concept of Grameen Bank in Bangladesh that developed the concept of micro credit which gives small loans to poor entrepreneurs who are unable to borrow from commercial banks.

Financial institutions was initiated by Muhammad Yunus is different from conventional banks because it does not use the collateral system.

To ensure repayment, Grameen Bank uses a system of “solidarity groups”. The groups applying for a loan together, and each member serves as a guarantor of the other members, so they can develop together.

“The concept of a bank like this, in my opinion, more than a shar` i Islamic bank itself, because it can lift the poor economy the poorest, “said Mukhlas.

The dissenting opinion stated Commission Chairman Waqi Maudlu “ iyah iyah KH Masyhuri Naim. According to him, banks generally do not conflict with Sharia Islamic law. One reason is the lack of bank interest that is forbidden in Islam.

“It’s just that in practice it is not entirely well as in his own theory. But it’s only natural. We are not not agree with Islamic banks. We only criticize the weaknesses in the practice Islamic banks themselves,” said NU was rais Syria.

According to Masyhuri, various issues surrounding the economy and Islamic banking in Halaqah raised will be discussed and examined in more detail in congress in Makassar, South Sulawesi, in January 2010.

Former Governor of Bank Indonesia (BI) Boediono only confirmed case of smiles when the Bank Century. “It’s later,” he said briefly as a reporter after attending confirmed breaking of fast with President Susilo Bambang Yudhoyono at the TNI Headquarters Cilangkap, Friday night.

Even when pressed further, vice president-elect of RI 2009-2014 period once again just smiled as he removed President Yudhoyono left Cilangkap TNI.

Former Governor of Bank Indonesia Boediono and Minister of Finance Sri Mulyani Indrawati to surface behind the rescue PT Bank Century Tbk on November 21, 2008.

The two officials assessed the country’s economy is responsible for saving and capital injections Century who jumped from Rp630 billion initially be Rp6, 7 trillion.

Head of BNI economist Tony Prasetiantono rate, instead Century needs to bail out to save the national economy. He confirmed that the rescue effect, the largest depositor’s benefit because the savings in the Century to be safe.

“But this is a normal and natural because all depositors to be saved,” he said.

Tony believes that the government did bail out without pretensions impartial Century a major customer.

“I’m sure once the integrity Boediono and Sri Mulyani. They’re not the adventurous type who wants to benefit large depositors,” he said.

According to him, in the case of Century, the same position of all depositors. However, the most disadvantaged are the biggest depositors. “But, it’s to save the financial system, not to save certain individuals,” he said

Problem Bank Century, Vice President and Ministry of Finance Mutual BantahWakil President (VP) M Jusuf Kalla straighten statement of the Ministry of Finance (Finance Minister who is also concurrently Plt Coordinating Minister Sri Mulyani Indrawati said, reporting to vice president of Century Bank presented to him on 22 November 2008 so as if the disbursement of funds at Century Bank had previously reported.

In fact, according to vice president, presented her report after the bank rescue fund digelontorkan Century. Kalla remonstrance was presented during a press conference this afternoon at the Vice Presidential Palace Jakarta, Monday (31 / 8).

Previously, as reported, the vice president that he did not know anything because it can not report from the Finance Minister about the development of Century Bank case. However, the day after Sri Mulyani said that he had reported to the Vice President on November 22, 2008.

“In explanation of Finance as if I was told on November 22 that I considered to know about Century Bank’s disbursement of funds. They are not. I have a report from the new Finance Minister on 25 November 2008 after funds were disbursed to the Bank Century, “he said.

According to the vice president, on November 22 falls on a Saturday and the vice president a working visit to Cibinong Bogor, West Java. “So the vice president’s office was closed and Wapresnya outside the city. I have sent SMS to Sri Mulyani, this afternoon and I told you the wrong that the report was not on the 22nd, but on 25 November. That is my check to my secretary on the date and day and my schedule, “he added.

It is said, with Sri Mulyani statement that the report was given on 22 as if the November 21 st Century Bank case was decided by KKSK to be given an injection of funds and reported to him on November 22. “So on November 23 disbursement of funds is done and has to my knowledge. So, as if I was a shed, but they are not, “he said.

When asked whether there had been a response from the Sri Mulyani, the vice president just said, “Until this afternoon there has been no.”