The Issuance of Sovereign Sukuk by Auction
for efficiency purposes, the Indonesian government in this respect is the Minister of finance office will issue sovereign sukuk by the mechanism of Auction, as explained by an official of Department of finance affairs , Rahmat Waluyanto at the socialization of sukuk auction in Jakarta, yesterday, 30/7. This auction mechanism is to be done to attract local investors.
“Furthermore Rahmat said the auction mechanism is more transparent and reliable
compare to the book building system.” therefore the government already prepared the regulatory framework of sukuk auction mechanism by issuing decree (PMK No 11/PMK.08/2009).
The top priority of sukuk auction involvement is by collaborating with Banks and the security companies. It is expected that in a month the government can raise about IDR 2 Trillions. The financial institution involved in offering sukuk must achieve the set target.(agus/nibra)