Those instruments include Islamic bonds (sukuk) designated for infrastructure projects and sharia short-term Treasury bills. (source)
Director of sharia financing policy at the Finance Ministry’s debt management office, Dahlan Siamat, said Monday that the ministry is still assessing two possibilities for the sukuk project. In one scenario proceeds from the sukuk issuance would be used to fund planned infrastructure projects in the state budget. In the second the money would go towards underlying projects.
“The first one is the most feasible because it doesn’t need new permissions. We have secured principle approval from the President,” he said.
The ministry is also considering a plan to introduce one-year sharia and regular T-bills to meet the demand for short-term sharia notes and to assist with the liquidity management of sharia banks, the debt office’s director general Rahmat Waluyanto said.
“We are discussing it with BI. There will be a solution because BI no longer sells their debt papers with less than 9-months maturity. There are problems with benchmarking, but they can be solved,” Rahmat said.
Source : http://www.thejakartapost.com/news/2011/02/21/govt-plans-introduce-sukuk-sharia-tbills.html - Feb 21, 2011
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