Sukuk Retail Sales Reach Rp2 trillion

JAKARTA: Sales of sharia bonds (SBSN / sukuk) retail until the third day has reached Rp2, 05 trillion, approaching the indicative target of the government set Rp3 trillion.

Ministry of Finance Debt Management Director General Rahmat Waluyanto expressed optimism the sale of securities retail sharia series 02 (SR-002) exceeds the indicative target.

"Some agents have asked upsize [target] but we have not considered it because it still has many instruments to be issued this year. So the maximum target indikatifnya still Rp3 trillion," he said via short message service yesterday.

Rahmat explained until yesterday, as many as 3981 investors who had ordered the retail sukuk. The SR-002 coupons that the government set the level of 8.7% and will mature within the next 3 years with the offering period until February 18.

Wealth Management Group Head PT Bank Mandiri Tbk Inkawan D. Jusi said the company was getting requests around Rp500 billion until the third day of sales. The amount is equivalent to 62.5% from the initial target set for a state bank was Rp800 billion.

He explained no restrictions on purchases by the government became one of the factors that made the company optimistic to reach the target set. Bank Mandiri plans to ask for an increased sales to the government's target of 2 days.

The PT Reliance Securities Tbk Sukuk Retail sales target 002 series at least Rp100 billion following the belief that investment bonds are sharia-based state predicted market demand.

Nicky Hogan, Vice President Director of Reliance, said today it continues to disseminate to the public. Request to purchase Sukuk is still not there.

"In the second week sales are usually crowded, even more than the quota for Reliance which reached Rp100 billion," he said, on the sidelines of the show talks about the Sukuk Retail 002 in Malang, yesterday.

Retail Sukuk prediction would be interested in 002 communities, he added, because the coupon or ijaroh higher than deposit rates that banks currently range from an average of 6%, while the coupon or sukuk ijaroh reaches 8.7%