in.news.yahoo.com -Jakarta,
May 15 (Xinhua-ANI): The Indonesian finance minister plans to auction
Islamic bond on May 22, as an effort to develop the market for the
Islamic instrument, a statement from the ministry said here on Tuesday.
The sales with indicative target
of one trillion rupiah (some 108.45 million U.S. dollar) that would be
used to help plug the budget deficit this year.
The sales Indonesia's
Islamic bond known as sukuk on April 24, l3, Feb. 23 and Jan. 14 were
oversubscribed with the amount of funds raised exceeding target,
indicating investors' appetite on the country's Islamic instrument
continues rising. (source)
The rising of investor appetite
is expected to help developing of market for Islamic instrument in the
world's biggest Muslim country. Indonesia has a huge market potential
for the Islamic instrument market penetration as the country's market
share has lagged behind neighboring Malaysia or Singapore whose Muslim
population are less than Indonesia. (Xinhua-ANI)
Source: http://in.news.yahoo.com/indonesia-aims-auction-islamic-bond-112003659.html - May 15, 2012
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