Indonesian gov't to issue Islamic bond on monthly basis 2009-07-30 13:49:58   Print

    JAKARTA, July 30 (Xinhua) -- The Indonesian government will issue Islamic bond regularly on a monthly basis with initial issuevalued at 1 trillion rupiah (around 100 million U.S. dollars) starting from August this year, Indonesian senior official said here on Thursday.

    "If the monthly basis issue is doing great, there is a possibility to issue the Islamic bond on two-week basis," the quoted Rahmat Waluyanto, Debt Management Director at the Financial Ministry, as saying.

    He said that the issue of the Islamic bond, popularly known as sukuk, would be conducted through auction.

    "Auction method is more transparent and allows the public to monitor the sale directly," Rahmat said

    The Indonesian government expects that it would reap more funds from the public since 80 percent of the 230 million population are Muslims.

Editor: Deng Shasha
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