VIVAnews – The Department of Finance will issue global Islamic bonds (sukuk) in Middle East. However, the government has yet to decide whether or not it will increase the underlying assets worth Rp 7 trillion (US$588.5 million) for the Islamic bond issuance.
According to Director of Sharia Financing at the Department of Finance, Dahman Siamat, the government will need the House of Representatives (DPR)'s approval if it wishes to increase its underlying assets. For the time being, the government will use the remaining assets belonging to the Department of Finance worth Rp 7 trillion (US$588.5 million). The government will increase the underlying assets if such action is necessary.
“We still have additional assets, such as the Gelora Bung Karno Stadium Complex, but the government needs to discuss the matter with DPR,” Siamat told VIVAnews yesterday, March 12.
However, the government has yet to decide the timetable for global sukuk issuance. Today, the yield bond market begins to reverse down. “This means, the price has already recovered,” he said. However, the government has no plan to hold any promotion road show in foreign countries to boost the sale of its global Islamic bond. “I don’t think such road show is necessary,” Siamat said.
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Translated by: Edwin Solahuddin
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