Indonesia maintains position as leading sovereign Sukuk issuer
Government Sukuk have been the leading instruments of the Indonesian Islamic fi nance industry since 2015. According to the Ministry of Finance (MoF)’s statistics, total government Sukuk issued as at the 29th March 2017 stood at IDR664.53 trillion (US$49.91 billion), with global Sukuk (denominated in the US dollar) accounting for 24.2%. On the same date, the government issued a dual-tranche global Sukuk facility totaling US$3 billion with one tranche amounting to US$2 billion (with a 10-year tenor and 4.15% coupon) and the other amounting to US$1 billion (with a fi ve-year tenor and 3.4% coupon).
By Farouk Abdullah Alwyni