The Finance Ministry raised Rp 14.9 trillion ($1.5 billion) from the sale of rupiah-denominated Islamic bonds to Indonesian citizens on Monday as part of the country’s effort to raise funds to plug its ballooning budget deficit. The sale of the Shariah-compliant sukuk notes is also intended to spur growth in the Islamic finance sector in the country that is home to the world’s largest Muslim population.
The sukuk, called Sukuk Retail Indonesia (Sukri), will be the first rupiah-denominated Islamic bonds aimed at retail investors in Indonesia this year.
The sukuk, called Sukuk Retail Indonesia (Sukri), will be the first rupiah-denominated Islamic bonds aimed at retail investors in Indonesia this year.
Indonesian Government Raises $1.5 Billion From Sukuk Sale
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