Govt Sells Rp 6 Trillion in Islamic Bonds to Haj Fund

By webadmin on 08:10 pm Feb 13, 2011
Category Archive

Indonesia’s Finance Ministry on Friday sold Rp 6 trillion ($672 million) in Islamic bonds, or sukuk, to the state-managed Haj Fund via a private placement, Shariah director Dahlan Siamat said.

The sukuk, which is not tradeable in the secondary market, has a three-year tenor and 7.85 percent coupon, he said.

Since 2009, the ministry has issued Rp 21 trillion in sukuk to the fund, managed by the Religious Affairs Ministry.