COUNTINEWS.CO.CC- Indonesia Plans to Issue Islamic T-Bills Indonesia plans to issue Islamic treasury bills maturing in three, six, and 12 months in the second quarter to help deepen its domestic financial market, a senior official at the Ministry of Finance said Wednesday.
Dahlan Siamat, director of Islamic finance, told reporters on the sidelines of a parliamentary hearing that the government plans to raise underlying assets of sukuk issuance by around IDR30 trillion this year ($3.4 billion) to help boost the domestic market for Islamic finance.
“We also plan to issue Islamic T-bills with tenors of three, six, and 12 months, likely at the end of the second quarter,“ Siamat said, adding that government aims to raise IDR1 trillion from a sukuk auction on April 12.
The Islamic treasury bill issuance would be the country's first, and would add a short-term debt instrument to the domestic market. The ministry on March 22 issued its first 3-month conventional treasury bill, and is considering issuing a 6-month bill. The ministry previously issued only 12-month conventional bills.
Issuing short-term debt will encourage investors to move funds away from SBI notes issued by the central bank, as the government's bonds and bills don't require a minimum holding period, analysts said.
Indonesia is home to the world's largest Muslim population, but lags behind neighbours such as Malaysia and Singapore in developing its Islamic financial market. sumber : Dow Jones . Sumber : kompas.com
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“We also plan to issue Islamic T-bills with tenors of three, six, and 12 months, likely at the end of the second quarter,“ Siamat said, adding that government aims to raise IDR1 trillion from a sukuk auction on April 12.
The Islamic treasury bill issuance would be the country's first, and would add a short-term debt instrument to the domestic market. The ministry on March 22 issued its first 3-month conventional treasury bill, and is considering issuing a 6-month bill. The ministry previously issued only 12-month conventional bills.
Issuing short-term debt will encourage investors to move funds away from SBI notes issued by the central bank, as the government's bonds and bills don't require a minimum holding period, analysts said.
Indonesia is home to the world's largest Muslim population, but lags behind neighbours such as Malaysia and Singapore in developing its Islamic financial market. sumber : Dow Jones . Sumber : kompas.com
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