The Finance Ministry is targeting Rp 15 trillion ($1.55 billion) from issuing rupiah-denominated Islamic bonds, or sukuk, to Indonesian citizens as part of the country’s effort to plug the budget deficit amid a deepening domestic financial market. The Shariah compliant debt notes, the fifth issue of its kind, are intended to woo retail investors in the world’s largest Muslim-majority population to participate in financing government projects.
Fifth Govt Sukuk Sale Expected to Bring in Rp 15t
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