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Today's
banking transactions have become much easier
and more convenient, for, subsequent to phone
and Internet banking, sophisticated telecommunications
technology has made mobile banking one of the
latest services available from most major banks.
Since 2002, the number of banks providing this
service has grown further. Just as the name
indicates, mobile banking -- now often abbreviated
to m-banking -- means banking transactions via
your cell phone. Some of the banks that provide
this facility are: BCA (m-BCA), Bank Niaga (Niaga
Ponsel Access), HSBC (HSBC PonselBanking) and
Bank Mandiri (SMS Banking Mandiri). Several
years ago, some of the banks required their
customers to use different Subscriber Identification
Module (SIM) cards for m-banking services and
the banks cooperated only with certain cell
phone operators. For example, for m-banking
with HSBC and BCA you have to use a special
SIM card that contains the mobile banking transaction
menu. Recently however, some other banks, such
as Bank Mandiri and Bank Niaga, have changed
the prerequisite. In close cooperation with
all operators in the country -- Exelcomindo,
Telkomsel, Satelindo and Indosat M3 -- these
banks do not require their customers to change
SIM cards for m-banking. Most customers feel
that m-banking is quite safe, because the user's
identity is the cell phone number and one does
not have to reveal the account number while
sending the text message. On top of that, the
customer has his or her own Personal Identification
Number (PIN), which can be changed at any time.
For further security, each transaction with
BCA is encrypted, while at HSBC the latest multi-layer
technology is used. Most of the transactions
that can be conducted through m-banking are
more or less similar at most banks: information
on current balance and some of the most recent
transactions, money transfers, payment of various
bills (telephone, electricity, water, insurance,
school fees, credit cards etc.) and change of
PIN. Some m-banking services allow customers
to purchase prepaid, cell phone talk time or
even shares on the stock market. Almost all
of the banks that provide m-banking services
only allow transfers between their own customers.
The amount that can be transferred is also limited.
At BCA, for example, a holder of BCA Silver
ATM is allowed to transfer a maximum of Rp 7.5
million per day, while for BCA Gold ATM holders
the maximum transfer is Rp 15 million per day.
The greatest transfer amount allowed -- Rp 50
million per day -- is the privilege of BCA Platinum
ATM cardholders. While some banks require their
customers to make a personal visit to one of
their offices to complete the necessary forms,
Bank Niaga has recently made it more convenient,
as its customers can register at its own ATMs
for m-banking services. So, in today's hectic
world, where most of us are busy doing one thing
or another, banking transactions via m-banking
are becoming much more convenient, simpler and
safer. With ongoing developments in telecommunications
technology, the transmission of messages is
also getting faster as it takes only a couple
of seconds. And remember, for the security of
your money, the text messages are automatically
recorded and stored, under maximum security,
on servers on both sides -- your cell phone
operator's as well as the bank's.
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The
Jakarta Post, Jakarta
The
Indonesian Bank Restructuring Agency (IBRA)
should cancel the sale of a 51 percent stake
in Bank Danamon if the bids offered are too
low, senior legislators said on Monday. Faisal
Baasyir and Anthony Zedra Abidin, lawmakers
from the House of Representatives Commission
IX for financial affairs, said there was no
point in proceeding with the plan if it failed
to generate the best possible proceeds. "It's
about the timing. If it has yet to produce optimal
results, then don't force it, cancel the divestment,"
Faisal was quoted by Antara as saying. Anthony
further said that it would be best to cancel
the divestment given the unfavorable business
climate, which would eventually affect the interests
of investors. "Now is not a good time because
of the overall environment, the instability
... aside from our messy legal system. That's
why we suggest a cancellation. If we force it,
it would only allow the massive wholesale of
state assets," he said. The two failed to mention
a desirable price for the Bank Danamon stake.
IBRA deputy chairman I Nyoman Sender said on
Monday that the bids coming from the three existing
bidders ranged from Rp 1,015 to Rp 1,100 per
share. It remains unclear as to which bidder
has offered the highest price, but with around
2.5 billion shares on offer, even the highest
offered price would only bring in some Rp 2.9
trillion in total proceeds, which is far below
IBRA's initial target of around Rp 4 trillion.
Based on this argument, the legislators' objections
appear justified. Although the divestment does
not require House approval, the government always
regards the approval as crucial to avoid a backlash
in the future. The three bidders are the Asia
Financial Indonesia consortium -- consisting
of Temasek Holdings of Singapore and the Deutsche
Bank -- the Bank Artha Graha consortium and
the Bhakti Capital Indonesia consortium. The
three were deemed eligible by IBRA after they
met the March 17 deadline to submit their official
bids. The three bidders have until the middle
of this month to conduct due diligence on the
bank before making their final bids. Among those
that failed to submit bids in time was a consortium
named Solid Investment and Finance Ltd. (SIF).
Despite having failed to met the deadline, the
elimination of SIF as a bidder drew criticism.
Kontan weekly reported that the consortium had
offered a price of Rp 1,775 per share, well
above other bidders. Had IBRA accepted the bid,
the sale would have raised a total of Rp 4.4
trillion in proceeds, or at least some Rp 1.6
trillion more than the bids of the other three
consortia.
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