Colonial Government Sukuk to Middle East

JAKARTA, KOMPAS.com - The government will issue bonds until the end of the year amounted to Rp 37 trillion. One way is to sell the sukuk (Islamic bonds) to Middle Eastern investors.


Acting Director General of Debt Management at the Ministry of Finance Robert Pakpahan explain global sukuk issuance is one way to patch the 2012 budget amounting to Rp 270.4 trillion. The government will also be issuing bonds denominated in Japanese Yen (samurai bonds) and domestic securities.

"The plan this November we will roadshow to the Middle East to sell sukuk., Where a lot of investors who are interested," said Robert in Building Ministry of Finance Frans Seda Jakarta, Monday (10/08/2012).

According to Robert, the government would like the road show to Jeddah, Saudi Arabia, Dubai to Doha Qatar. But the government does not want to sell global sukuk in Malaysia because not many investors are interested in the sukuk from Indonesia.

Until now, the realization of government debt issuance reached Rp 232.91 trillion. The amount represents 86 percent of the target debt issuance until the end of the year amounted to Rp 270.4 trillion. "So we need to patch the state budget by issuing more debt amounting to Rp 37 trillion," he said.

However, the amount of the debt will not be charged entirely to the issuance of sukuk. Total debt will be divided into global sukuk, samurai bonds and domestic securities. Unfortunately, Robert was reluctant to explain the portion of debt issuance to each instrument.

Special samurai bonds, the government has appointed a joint lead arranger is Mizuho Securities and SMBC Nikko Securities. While global sukuk, the government appointed Standard Chartered Securities, SMBC Nikko Securities and Deutsche Bank Securities.
Editor: Erlangga Djumena
source: kompas.com

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