Tight hold

Central Bank has got additional powers to regulate licensed specialized banks with the passage of the Monetary Law Act in parliament this week.rn

rnAn official said under the new amendment, Central Bank will have the same powers it has over commercial banks to regulate licensed specialized banks as well.rn

rnOne change allows Central Bank to appoint a liquidator for licensed specialized banks and the liquidation to be carried out under regulatory supervision.rn

rnAnalysts say this could become useful in the near future if Central Bank decides to liquidate Pramuka Bank.rn

rnSome estimates indicate that depositors would get about a third of their money back if Pramuka is liquidated.rn

rnUnder the previous law licensed specialized banks had to be liquidated by their own managements.rn

rnThe new law will come into legal effect as soon as the speaker
quote s signature is placed on it.rn