May 5 (Bloomberg) -- Indonesia may hold its first sale of sukuk backed by road and rail projects on May 31, said Dahlan Siamat, director of Islamic finance at the finance ministry.
The ministry is waiting for parliament to approve 30 trillion rupiah ($3.5 billion) of state-owned land and office buildings to be used to back sukuk offerings, Siamat said in an interview in Jakarta on May 4. Shariah-compliant bonds pay return on assets to comply with Islam’s ban on interest. (full story)
