•    HOME   
•    NEWS   
•    BUSINESS   
•    INTERNATIONAL   
•    TECH   
•    SPORTS   
•    LIFE & TIMES   
•    OPINION   
•    MY JAKARTA   
•    BLOGS   

The Bank Century bailout saga is not likely to go away anytime soon. After last week’s final vote by the House of Representatives, the focus of the case now moves from Senayan to the Corruption Eradication Commission in South Jakarta. This is both good news and bad news.

The commission, known as the KPK, announced over the weekend that it was focusing on the controversial Rp 6.7 trillion ($723 million) bailout, and indicated that it had found initial evidence of corruption. Its deputy chairman, Muhammad Jasin, noted that the KPK was investigating a number of possible corruption cases linked to the bailout.

If there was indeed corruption linked to the bailout, the KPK must investigate thoroughly and rigorously. Despite the recent controversy linked to the commission, it is still highly regarded as an independent and nonpolitical institution, and therefore retains the trust of the public.

The Bank Century investigation, however, will be an important test for the KPK. Given the highly politicized nature of the inquiry conducted by the House, the antigraft commission will have to walk a very fine line. It must ensure impartiality and be above aboard, which will not be easy. It thus faces the tricky situation of conducting the investigation in a fair and transparent manner, while at the same time avoiding the political theatrics that were employed by the House.

The KPK also must move swiftly, as enough national resources already have been spent on this case. But in moving swiftly, it cannot afford to be careless and overlook facts, given the highly sensitive nature of the case and the individuals involved.

If the KPK does call in Vice President Boediono and Finance Minister Sri Mulyani Indrawati as part of its investigation, it must be absolutely certain of the facts beforehand. These two individuals have served the nation to the best of their abilities and have demonstrated extreme self-restraint despite some hostile questioning by members of the House special committee.

They must be allowed to get on with their respective jobs instead of being bogged down by unnecessary questioning. They have not been implicated so far in engaging in corrupt practices in connection to the bailout, even if some procedures were circumvented. This is a very delicate matter and must be handled with the utmost care.

The upshot of the KPK investigation is that if there is clear evidence of corruption linked to the bailout, it must be presented in a court of law. Any person suspected of being involved must be brought to justice. But the investigation should not, and must not, be politicized or allowed to be hijacked by those who have an agenda.

The stakes are very high and the nation’s macroeconomic foundations could be shaken if the case veers out of control. The KPK must move fast but carefully.