The Government will press forward with the divestment of the remaining IBRA banks with plans to sell majority stakes in Bank Lippo and Bank Internasionel Indonesia by November of this year, and Bank Permata by February 2004. The Government also plans to sell 20% stake in the state-owned Bank Rakyat Indonesia in September of this year.
Fourth, a common electronic platform (the e-zwich) was established in a further development of the payment and settlement system making it possible to link all banking institutions with a biometric smartcard as a vehicle for financial inclusion of all segments of the population. This should help deposit-based financial intermediation.