JAKARTA — Paramadina University Rector Didik J Rachbini has issued a strong warning, stating that a proposal to forcibly acquire shares of PT Bank Central Asia (BCA) Tbk poses a significant threat to Indonesia’s economic system. Rachbini urged President Prabowo Subianto to disregard this contentious idea, emphasizing that such a move would severely undermine the stability and integrity of the nation’s banking sector.
In a written statement released in Jakarta on Sunday, August 24, 2025, Didik highlighted the remarkable transformation of the Indonesian banking industry. He noted that “after an exhaustive and even painful restructuring process, the banking sector has actually emerged considerably stronger.” This resilience, he explained, is a direct outcome of the comprehensive post-reform financial and banking policies implemented to fortify the system.
Didik recalled the devastating 1998 exchange rate crisis, which exposed the extreme fragility of the banking sector at the time. However, he asserted that this crisis served as a crucial catalyst, prompting vital restructuring and the improvement of institutional architecture within the banking system. The subsequent reforms yielded impressive and highly satisfactory results, creating a more robust and adaptable financial landscape.
The strength of Indonesia’s banking sector was further demonstrated during subsequent global upheavals. Even amidst the severe 2008 global economic crisis, which triggered a capital market collapse more profound than that of 1998, the nation’s banks proved resilient. Similarly, when the 2019 COVID-19 pandemic shook the global economy, the Indonesian banking sector stood firm, despite a doubling of its Loans at Risk (LAR). As the pandemic subsided, the sector swiftly returned to normalcy, underscoring its enduring stability.
Given this robust history, Didik unequivocally condemned the suggestion of a state takeover of private banks, labeling it a “misguided, unreasonable, and unsound idea.” He warned that such a drastic measure would inevitably erode crucial market confidence in Indonesia, deterring both domestic and international investors.
“Banks would lose trust, and no one would recommend investing in BCA again,” Didik asserted. He underscored that BCA shares are widely trusted by the public due to the bank’s exemplary management and its absolute commitment to transparency as a public entity.
Didik further elaborated on BCA’s pivotal role, noting that alongside Hinbara (the association of state-owned banks), it serves as a primary pillar supporting the national economy. Both BCA and state-owned banks make substantial contributions through tax revenue, foster robust credit growth, and actively stimulate business development across the country.
“The continuous rhetoric and proposals to take over BCA shares without legitimate cause constitute an act of political policy anarchy,” Didik declared. He added that because these ideas originate from political parties, they represent a “dangerous alarm” for the overall national economic climate and ecosystem.
Didik expressed a degree of relief regarding the government’s dismissive stance towards such proposals. He specifically cited Danantara CEO Rosan Roeslani, who publicly refuted any plans for Danantara to forcibly acquire a 51 percent stake in BCA. Didik concluded by emphasizing that “the state must cultivate and maintain a healthy market, fostering strong business growth, rather than interfering in a substandard manner that ultimately leads to its destruction.”
Summary
Paramadina University Rector Didik J Rachbini has strongly warned against a proposal to forcibly acquire shares of PT Bank Central Asia (BCA) Tbk, calling it a significant threat to Indonesia’s economic system. He urged President Prabowo Subianto to reject this idea, emphasizing that such a move would undermine the stability of the nation’s banking sector. Didik highlighted the sector’s robust recovery and resilience since the 1998 crisis, successfully weathering subsequent global economic upheavals and the COVID-19 pandemic.
Didik condemned the suggestion of a state takeover as “misguided and unsound,” warning it would erode market confidence and deter investors from Indonesia. He underscored BCA’s trusted public status due to its management and transparency, noting its crucial role in supporting the national economy alongside state-owned banks. While he labeled such takeover rhetoric as “political policy anarchy,” Didik expressed relief that government officials have dismissed these proposals.