Bank Mutiara was formerly scandal hit Bank Century, which is in the center of high profile corruption case implicating a number of people in high place including Vice President Boediono.
LPS secretary Samsu Adi Nugroho said in a statement former shareholders of Bank Century or other problematic banks may not buy the shares.
The bank has been for sales over the past years.
Boediono was the governor of Bank Indonesia, which was responsible for a US$700 million bailout of the ailing bank in 2009 triggering a big controversy.
The government defended the bail out saying to prevent systemic effect in the wake of the financial crisis in 2008 , but the House of Representatives decided it was illegal.
The case is still in the process of investigations , but the Corruption Eradication Commission said it would be brought to court this week .(*)
Editor: Heru Purwanto
Copyright © ANTARA 2014
