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Jakarta Post

Retail sukuk bonds a hit with investors

  • Aditya Suharmoko

    THE JAKARTA POST

JAKARTA   /   Tue, February 24 2009   /  11:02 am

The volume of  the new government retail sukuk (Islamic bonds) absorbed by individual investors is exceeding government expectations. That was according to official figures released by the Finance Ministry on Monday. The government managed to book orders of up to Rp 5.56 trillion (US$ 496.4 million) of retail sukuk in less than a month, or about 3 times its initial target of Rp 1.77 trillion as originally submitted by 13 designated selling agents. “It’s an example of how dynamic the financial market conditions are ... “ Finance Minister Sri Mulyani Indrawati said in a press conference. It was the first retail sukuk bond ever issued by the government. JP/IRMA The selling agents are Bank Mandiri, Bank Syariah Mandiri, Citibank N.A., HSBC and Bank BII, as well as Danareksa Sekuritas, CIMB-GK Securities Indonesia, Reliance Sekuritas, Trimegah Securiti...