Managed based on Islamic principles and has been declared Sharia-compliant by the National Sharia Council – Indonesian Ulema Council (DSN-MUI), it does not contain elements of gambling, obscurity, and usury, as they adhere to the Islamic code of conduct.

The proceeds from the issuance of this sukuk will be used for investment activities in the form of purchasing state property rights to be leased to the government as well as project procurement to be leased to the government. Each Investor will be able to earn their rewards from the profits of the aforementioned investment activities, as well as play a hand in transforming Indonesia for the future.

ST009 is one of those savings sukuk, launched in November 2022, and it has been offered by over 30 distribution partners, including Bank Rakyat Indonesia (BRI). Because this is a green savings sukuk, the government will finance environmentally friendly projects. The previous savings sukuk has specifically been used in two sectors; sustainable transportation and resilience to climate change, and ST009 will proceed on the same environmentally friendly path. This is expected to mitigate the impact of climate change and adaptation to climate change that has occurred.

The investment bears different characteristics than that of a regular one. Other than the use of Sharia beliefs, the investment is strictly for Indonesians, and payments have a minimum of Rp 1 million. It can’t be traded or transferred to another person and has a 2-year tenure. On the upside, it has a floating-rewards concept with minimum limits of 6.15 percent, which means that the rewards will be adjusted to changes in the BI 7-day Reverse Repo Rate every three months, also known as the floating-with-floor concept. The benefits of the concept include a more significant profit potential compared because of the possibility of an increase in interest rates.

Moreover, it has the option for early redemption, which starts on October 24 and will go on until November 4, 2022. However, the returns may not be liquified before the due date, which is scheduled for November 10, 2023.

Furthermore, other benefits include; the rate competitiveness of return, which are higher than the average interest rate for state-owned banks, monthly rewards, early redemption with no fee, and easy access via online or electronic transactions. The rewards are guaranteed by the state itself, and investors will directly participate in improving the national welfare and adhere to the Sharia principle, which has recently garnered more attention in Indonesia.

The early redemption facility is only allowed for investors with a minimum ownership of Rp 2 million in each distribution partner, for 50 percent of the total investor ownership with a minimum application nominal of Rp 1 million. The distribution partners consist of two Sharia banks, four special securities companies, six securities companies, three fintech companies, and 17 conventional banks, including BRI.

To start investing, register through the electronic system provided by distribution partners (Mitra Distribusi or Midis). Enter data, among others, personal data, SID number (Single Investor Identification), Fund Account number, and Securities Account number. Those who do not yet have a SID number, fund account, and/or securities account, Investors can register through BRI Branch Office (KC and KCP) or BRI Priority Branch (SLP) for Single Investor Identification (SID) and Securities Account (SRE). Thereon, registration for SBN Online BRI is required, and Investors can place their order for ST009. Investors can also set their order from the BRImo application.

After the order is verified, investors will receive a billing code via email or text message. The payment can be made through various payment channels, including teller, ATM, internet banking, or BRImo application. The billing code is used for depositing investment funds through the bank within a predetermined time limit. Finally, investors will get a State Revenue Transaction Number (NTPN), and a completed order notification will be sent through the payment channel used or to a registered email address.

Each Investor who places orders of ST009 from BRI during the offer period will get an exclusive direct gift of up to millions of rupiah. To know more, visit here.

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