JAKARTA: Directorate General of Debt Management is optimistic to reach the target of Islamic bonds issuance this year by issuing the Indonesian hajj funds sukuk (SDHI) amounting IDR4.85 trillion. The sukuk issuance was to substitute the global sukuk whose issuance was canceled in second quarter 2010.Director General of Debt Management Rahmat Waluyanto explained the regular sukuk auction by the end of this year will still be held by issuing SDHI.
"We still can gain. The 2010’s issuance target can be achieved even without issuing global sukuk,” he told to Bisnis, yesterday.
The policy, Rahmat said, will allow the issuance of domestic sukuk to precisely target at sukuk investors, such as the Ministry of Religious Affairs, rather than the global sukuk issuance whose buyers are mostly non-Islamic investors.
Related to the global sukuk, Rahmat confirmed the delay of sukuk issuance in first half of 2010 was in line with the plan for curbing the issuance target and developing the domestic sukuk market.
“Government wants State Budget to remain credible, funding all government's activities, paying the maturing debts, financing fiscal stimulus, paying the salaries [civil servants], and providing transfers to regions,” he described.
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