In November 2008, Indonesia will Issue Sharia Bonds
Jakarta, Indonesia | July 22, 2008 by
The Indonesian government announced a plan to issue global sharia bonds to November from October this year, Director General of Debt Management at the Finance Ministry of Indonesia, Rahmat Waluyanto, said to Indonesian media sources last week.
“The global sharia bonds will particularly target the Middle Eastern market,” Rahmat said.
He said the government would invite international banks of good reputation to help issue the global sharia bonds.
“We will involve local banks particularly to learn how to make international deals and links,” he added.
He said the time table for the issuance of domestic sharia bonds meanwhile remained unchanged.
“We have already extended invitations to 11 prospective domestic and foreign sales agents, four of them main sales agents of SUN (state debentures),” he said.
He said the government would officially issue sharia bonds on August 28 and list them at the Indonesia Stock Exchange on August 29.
D-8 Secretary General welcomes this step taken by Indonesia. Among D-8 member countries, Malaysia is the first member that issue global sharia bonds or sukuk, and now followed by Indonesia. He said that the organization hopes that the rest of the memberstates could learn and follow from these both countries that has studied to optimize the use of sukuk to fund their infrastructure development programs.
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