Selling like hot cakes: A Bahana Securities official meets with a client interested in Islamic retail bonds (sukuk) at the company’s office in Jakarta on Monday. The Finance Ministry said that orders for sukuk, which are now being offered until March 16, have reached Rp 11.1 trillion (US$1.2 billion).JP/NurhayatiThe government is considering up sizing the issuance of the nation’s fourth ever retail Islamic debt papers (sukuk) after seeing strong demand from local individual investors.

“There may be an up-size,” Rahmat Waluyanto, director general of the Finance Ministry’s debt management office, told The Jakarta Post on Monday without disclosing details.

About 14,000 investors have ordered Rp 11.1 trillion (US$1.2 billion) worth of the Islamic bonds within the first six days of the offering up to Monday, already nearing selling agents’ more than Rp 13 trillion co...