JAKARTA, Apr 3: The government has issued travel bans on 172 bankers as part of an investigation into alleged wrongdoing at dozens of closed banks, local media reported Saturday, says AP.

The travel ban. implemented on Thursday, bars the bankers from traveling outside the country for six months and can be extended at the request of the finance ministry, The Jakarta Post reported.

Last month, authorities shut 38 ailing banks in line with reforms required by the International Monetary Fund that were designed to hoist Indonesia's shattered economy out of its slump.

The banks were saddled with bad loans and had breached their legal lending limits, government officials said. Three banks belonged to members of the family of former President Suharto, who quit in May amid riots and protests against his 32-year authoritarian rule.

Finance Minister Bambang Subianto said the travel bans were necessary because the bankers would be needed for questioning about their failed operations.