INDONESIA - CAPITAL MARKETS - Sukuk instruments get more attention

JAKARTA, KOMPAS.com - Instruments sukuk, or Islamic bonds, increasingly in demand globally. This is shown with a total value of global sukuk issuance rose 5.8 percent in the second quarter of 2011 from the same period in 2010.
It is delivered by the Director of the Indonesian Bond Pricing Agency (IBPA) Hasan Fawzi in Jakarta, Tuesday (11/15/2011). "In annual terms, total sukuk issued in the first half of 2011 worth 32.07 billion U.S. dollars," said Hasan. (source)

When seen from 1990 to Quarter II-2011, the total value of sukuk issuance reached 232, 58 billion U.S. dollars in which the value of its outstanding U.S. $ 195.1 billion.
"These conditions provide a strong signal to investors that investing in sukuk instruments have a positive outlook," said Hasan. Sukuk is now considered as an alternative financing instruments are more liquid and attractive to global investors.
By country, Malaysia became the country's largest sukuk issued with a total value of 13.14 billion U.S. dollars in the second quarter of 2011. Indonesia only in figure 11.62 million U.S. dollars.
Towards the achievement of this Malaysia, Head of Financial Analysis and Market Sub SBSN Director General of Debt Management, Ministry of Finance, Riestianti, mentions, it is reasonable because Indonesia's neighbors had been started earlier than Indonesia. "If we (Indonesia) has issued sovereign sukuk issued by the Government of Indonesia. Kan new from 2008," he said as the reason.
Another indication of the higher demand for sukuk investors would total return is the global sukuk index which rose sharply from 125.18 per cent (average of the first quarter of 2011) to 130.25 per cent (average quarter II-2011). The impact, said Hasan, borrowing costs even further down.
What are the factors behind the increasing demand for sukuk is it? Hasan said, an increase in revenues from oil and increased financing of infrastructure projects to be the reason.

Instrumen Sukuk Kian Diminati

Ester Meryana | Erlangga Djumena | Rabu, 16 November 2011 | 07:59 WIB

 

Kompas/Riza Fathoni

ilustrasi

JAKARTA, KOMPAS.com — Instrumen sukuk, atau obligasi syariah, kian diminati secara global. Ini diperlihatkan dengan total nilai penerbitan sukuk global naik 5,8 persen pada triwulan II-2011 dari periode yang sama tahun 2010 .

Hal ini disampaikan oleh Direktur Indonesia Bond Pricing Agency (IBPA) Hasan Fawzi di Jakarta, Selasa (15/11/2011). "Secara tahunan, total sukuk yang telah diterbitkan pada semester I-2011 bernilai 32,07 miliar dollar AS," kata Hasan.

Jika dilihat sejak tahun 1990 hingga triwulan II-2011, total nilai penerbitan sukuk mencapai 232 ,58 miliar dollar AS di mana nilai outstanding-nya 195,1 miliar dollar AS.

"Kondisi ini memberikan sinyal yang kuat bagi para investor bahwa investasi pada instrumen sukuk memiliki prospek yang positif," kata Hasan. Sukuk kini dinilai sebagai instrumen pembiayaan alternatif yang semakin likuid dan menarik bagi investor global.

Berdasarkan negara, Malaysia menjadi negara yang menerbitkan sukuk terbesar dengan total nilai 13,14 miliar dollar AS pada kuartal II-2011. Indonesia hanya berada di angka 11,62 juta dollar AS.

Terhadap pencapaian Malaysia ini, Kepala Subdirektorat Analisis Keuangan dan Pasar SBSN Dirjen Pengelolaan Utang, Kementerian Keuangan, Riestianti, menyebutkan, hal itu wajar karena negara tetangga Indonesia tersebut sudah memulai lebih dulu ketimbang Indonesia. "Kalau kita (Indonesia) baru menerbitkan sovereign sukuk yang diterbitkan Pemerintah Indonesia. Kan baru dari tahun 2008," katanya sebagai alasannya.

Indikasi lain dari semakin tinggi permintaan investor akan sukuk adalah indeks total pengembalian sukuk global yang naik cukup tajam dari 125,18 persen (rata-rata triwulan I-2011 ) menjadi 130,25 persen (rata-rata triwulan II-2011). Dampaknya, kata Hasan, biaya pinjam pun semakin turun.

Apa faktor di belakang permintaan sukuk yang kian meningkat itu? Hasan menyebutkan, adanya peningkatan penerimaan dari minyak dunia dan peningkatan pembiayaan proyek-proyek infrastruktur menjadi alasannya. 

Source :  http://bisniskeuangan.kompas.com/read/2011/11/16/07593262/Instrumen.Sukuk.Kian.Diminati - Nov 16, 2011 - google translate