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Indonesia taking centre stage in global sukuk race

It is issuing such debt for 5th year running; sales in past 4 years tote up to US$5b, ahead of Malaysia's US$3.25b and Qatar's US$2b

Published Tue, Jan 13, 2015 · 09:50 PM
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Kuala Lumpur

INDONESIA is the most regular issuer of global sovereign sukuk even as its Islamic banking assets and local-currency sales lag behind Malaysia.

Finance Minister Bambang Brodjonegoro said on Jan 9 that the Jakarta government will offer international sukuk in the first half, the fifth straight year it's issued such debt. The South-east Asian nation sold US$5 billion of global sukuk in the past four years, compared with US$3.25 billion for Malaysia and US$2 billion for Qatar, according to data compiled by Bloomberg.

A shortage of investment products in the US$1.7 trillion industry, which Ernst & Young sees doubling by 2018, will ensure demand for Indonesia's sukuk, according to Kuala Lumpur- based…

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