FINANCIAL MARKETS - 20 Financial Institutions as Sukuk Ritel Agencies

Jakarta, (11/1). The Indonesian Government has announced the involving of 20 Financial Institutions as sovereign sukuk as agencies and has appointed law firm as a consultant for the sukuk issuance.

The Head of Finance bureau of the minister of finance office said Yudi Pramadi in a Press release said that there will some additional agencies this year, since there are many financial institutions has shown some interest in becoming a sovereign sukuk agency as it has a significant benefit for their institutions.

The agencies are:
1. PT Bank Mandiri (Persero) Tbk
2. PT Andalan Artha Advisindo Sekuritas
3. PT Mega Capital Indonesia
4. PT Bahana Securities
5. PT Bank Internasional Indonesia Tbk
6. PT Bank Syariah Mandiri
7. PT Danareksa Sekuritas
8. PT Bank Rakyat Indonesia (Persero) Tbk
9. PT Bank CIMB Niaga Tbk
10. PT Trimegah Securities Tbk
11. The Hongkong and Shanghai Banking Corporation Limited
12. PT Bank Negara Indonesia (Persero) Tbk
13. Citibank NA.
14. Standard Chartered Bank
15. PT Sucorinvest Central Gani
16. PT Reliance Securities Tbk
17. PT Bank Permata Tbk
18. PT Bank OCBC NISP Tbk
19. PT Ciptadana Securities dan
20. PT Kresna Graha Sekurindo Tbk.

In the meantime the appointed of a law form as sukuk consultant is Ary Zulfikar & Partners Legal Consultants. The observer of Shariah economic Gunawan Yasni said that this is a good benefit for financial institutions such as Islamic banks to be the agencies for sovereign sukuk, which can assist the bank to cross, sell their products.

“I perceived that it is a major benefit for Islamic banks to become sovereign sukuk agencies” exclaimed Gunawan Yasni.  (Agus Y/nibra)

Source : http://www.pkesinteraktif.com/english/capital-market.html  - Jan 11, 2011