Hesham Al-Warraq And Rafat Ali Rizfi, Fugitives Of Century Bank Case

Thursday, September 03, 2009

Hesham Al-Warraq And Rafat Ali Rizfi
Bank Indonesia has asked six overseas central banks and monetary authorities to perform black list on two foreign shareholders of Bank Century. Both of the shareholders had become a fugitive of Indonesian police.

Those foreign shareholders are Hesham Al-Warraq and Rafat Ali Rizfi, not clear now where they are. Meanwhile, their partner, a local shareholders, Robert Tantular has curled up in prison.

Hesham, Rafat and Robert were found to have assets related to Century Bank's securities and cash in Hong Kong worth for U.S. $ 1 billion. These names are mentioned associated with bulging bonds of Century Bank.

So who are those two foreign shareholders? So far no detailed information about Rafat Ali Rizfi, except known as citizen of Saudi Arabia. Meanwhile, Hesham is a British citizen who was born in Egypt. Referring to the financial statements of Century Bank 2007, other than as a shareholder, Hesham is a former Deputy Commissioner Century Bank since 2006. Hesham also served as Director of First Gulf Asia, the controlling shareholder of Century.

Hesham earned a degree in Finance and Banking from Western Illinois University, United States. In addition, he had followed several certification programs / education held by Citibank, SAMBA and Saudi British Bank Training Center.

Hesham banking career started in the Saudi American Bank from 1983 to 1996, with the last position as Senior Manager. Then joined Booz Allen & Hamilton Saudi Arabia, a consultant company to the U.S. government and Saudi Arabia, from the years 1996-2004 as a Joint Venture Partner and Vice President.

Century Bank's capital injection has become controversial because of the amount of funds injected jumped from the original estimate to Rp. 6.7 trillion. Previously Bank Indonesia (BI) said that fraud occurs in Century Bank was coordinated by the owner and the Century Bank management.
[ BI: Fraud In Century Bank Coordinated ]
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