We’ve written extensively about the situation of Bank Bukopin (BBKP) and Bank Mayapada (MAYA) in two different series of articles. KB Kookmin (South Korea) almost certainly will become the new controlling shareholder of the troubled Bank Bukopin. It would replace the Bosowa Group, a business group owned by Aksa Mahmud (the brother-in-law of former Vice President Jusuf Kalla). On the other hand, it remains unclear whether Taiwan’s Cathay Life would replace Dr Tahir as the new controlling shareholder of Bank Mayapada. The biggest question is about the political consequences that may follow if Bosowa loses Bank Bukopin to Kookmin while at the same time, Tahir manages to keep Bank Mayapada.

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