Jakarta open to lifting ban against JPMorgan, says finance minister

Jakarta

INDONESIA may soon lift a ban on government entities doing business with JPMorgan Chase & Co, a year after the US investment bank was shunned over negative comments about the stock market.

Any future business cooperation between the two sides will be based on "trust and respect", Indonesia's Finance Minister Sri Mulyani Indrawati said in an interview on Oct 27. She didn't outline a time frame for lifting the restriction.

President Joko Widodo's government stopped doing business with the largest US bank after it downgraded the south-east Asian nation's equities by two notches in what it called a "…