"It is a landmark transaction for our country, " proclaimed IBRA chairman Cacuk Sudarijanto.

CNN: The Winner Is . . .

Besides representing a simple change of management, however, Mr Cacuk may also make it easier for Mr Wahid to handle any nationalist backlash.

ECONOMIST: Indonesian banking

He has been impressively honest, but Mr Wahid appears to have equal faith in his replacement, Cacuk Sudarijanto, a former businessman, who many onlookers expect to do a better job.

ECONOMIST: Indonesian banking