asianbankingandfinance.net - The government has already sold US$1.5 billion of local Sukuk in March this year, says HSBC Amanah head Herwin Bustaman.
In a recent teleconference, HSBC shared its update and outlook for
Asia's Sukuk market. According to Herwin Bustaman, head of HSBC Amanah,
HSBC Indonesia, Indonesia is very likely to see record Sukuk issuance in
2012; in fact, the government has already sold US$1.5 billion of local
Sukuk in March this year. Bustaman estimates another US$1-1.5 billion of
global government Sukuk, most likely in the second half of this year. (source)
"For the first time, we think Indonesia will see one or two corporates
issue the country's first USD Sukuk. Previously, it was difficult to do
that because of issues such as tax and the transfer of beneficiary
ownership. However, with the new tax and Sukuk laws, corporates in
Indonesia can now issue USD Sukuk and start reaching out to Middle
Eastern investors. The GCC investors are definitely keen to invest in
Indonesia especially with the recent investment rating upgrade. They
would also like to diversify their investment to countries like
Indonesia," he added.
Source: http://asianbankingandfinance.net/islamic-banking/exclusive/indonesia-set-see-record-sukuk-issuance-in-2012-hsbc - April 24, 2012
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