Kathmandu. The Indonesian government is also preparing to provide insurance facility on the deposits of cooperatives.
Indonesia’s Ministry of Cooperatives has prepared a bill to provide insurance facility on deposits made by customers in cooperatives. The proposed bill has been submitted to the House of Representatives of Indonesia for approval.
Ferry Juliantono, assistant minister at the Ministry of Cooperatives, said last week that insurers should also provide the insurance facility to the customers of cooperatives. Indonesia Deposit Insurance Corporation (LPS) is currently providing insurance facility to the bank’s customers there.
Juliantono said that preparations are being made to provide insurance facility to the cooperatives to make arrangements for good governance by bringing them under the purview of the law. “This will not only modernise cooperatives but also enhance the security of customers’ deposits,” he said. – Agency
