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sukuk

Indonesia’s forex reserves rise to near record-high in June
Business 5 years ago

Indonesia’s forex reserves rise to near record-high in June

Indonesia’s foreign exchange (forex) reserves increased to US$131.7 billion in June following the government’s move to issue global sukuk (sharia compliant bonds) in the month.
Bondholders approve Garuda Indonesia’s sukuk extension
Business 5 years ago

Bondholders approve Garuda Indonesia’s sukuk extension

Garuda president director Irfan Setiaputra said 90.88 percent of the bondholders, accounting for $454.4 million worth of sukuk, voted in favor of the extension.
Garuda secures approval from bondholders for sukuk extension
Business 5 years ago

Garuda secures approval from bondholders for sukuk extension

National flag carrier Garuda Indonesia has earned some breathing space as the majority of its sukuk (sharia-compliant bonds) holders approved the company’s proposal to extend its US$500 million sukuk amid the company’s financial struggle due to the pandemic.
Garuda lays off 180 contract pilots
Business 5 years ago

Garuda lays off 180 contract pilots

The pilots, including senior and outsourced pilots working on a contract basis, have had their contracts terminated as the airline cuts back on flights, Garuda Pilot Association (APG) chairperson Muzaeni told The Jakarta Post on Tuesday.
Government drafts $1b rescue plan to save Garuda Indonesia
Business 5 years ago

Government drafts $1b rescue plan to save Garuda Indonesia

The rescue plan includes a proposal to restructure Garuda Indonesia’s $500 million sukuk due next month and arrange new bridge loans of as much as $500 million to meet working capital requirements.
Garuda opens dialogue with sukuk holders as it struggles to pay dues
Business 5 years ago

Garuda opens dialogue with sukuk holders as it struggles to pay dues

Garuda Indonesia issued US$496.8 million in global sukuk on June 3, 2015, with a five-year tenure and an annual return of 5.95 percent.
Bank Indonesia buys $108m of government bonds at auction, first time since rule change
Business 5 years ago

Bank Indonesia buys $108m of government bonds at auction, first time since rule change

“BI acts as the last resort when the market is unable to absorb all of the offers,” BI Governor Perry Warjiyo said.
Garuda, ‘severely affected’ by COVID-19, may restructure bonds: Minister
Business 5 years ago

Garuda, ‘severely affected’ by COVID-19, may restructure bonds: Minister

Weakening rupiah could also impact SOEs’ debts. 
Most infrastructure financing options still unfit for insurance companies
Business 6 years ago

PREMIUM
Most infrastructure financing options still unfit for insurance companies

About Rp 460 trillion-worth of the total assets owned by Indonesian insurance companies were allocated for investments in 2018.
'Green sukuk' may support equality in development
Opinion 6 years ago

PREMIUM
'Green sukuk' may support equality in development

Islamic finance and green finance are a natural fit, considering that Islam, the religion behind Islamic finance, emphasizes how humans on earth are born as trustees and stewards (khalifah) and that they must respect nature and all forms of life.
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