House of the Year, Indonesia – CIMB Niaga

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John Simon, CIMB Niaga

It's not been an easy year to be a bank offering derivative solutions in Indonesia. First, the central bank and sector regulator Bank Indonesia continues its tight grip over the derivatives market, with banks needing to secure both approval in principle to deal derivatives and then product-specific approval. Second, Indonesia was the hardest-hit Asean economy in the wake of the emerging market volatility that started after the US bond purchase tapering comments from the Federal Reserve in May.

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