“Reclaiming” BCA: A Billion-Dollar Idea or a Billion-Dollar Mistake?

Behind the push to reclaim BCA lies a risky cocktail of legal uncertainty, political nostalgia, and market-moving consequences.

In a year where Indonesia is busy polishing its global investment image, launching Danantara, a brand-new sovereign wealth fund, and ushering in a new president, a relic of economic debate past has reemerged. The proposal? That the government should “take back” 51 percent of PT Bank Central Asia Tbk (BCA), the country’s most valuable, most systemically …