Indonesia’s New Hajj Fund Management Agency
The members of Indonesia’s new Hajj Fund Management Agency, or known by its Indonesian name as Badan Pengelola Keuangan Haji (BPKH), were inaugurated by the president of the Republic of Indonesia, Joko Widodo, on the 26th July 2017, and immediately commenced...Indonesia’s Corporate Sukuk Space
Up to May 2017, there have been new issuances of corporate Sukuk amounting to IDR5.15 trilion (US$386.49 million). As shown in table 1, this performance in the first half of 2017 showed a major improvement compared with the performance in the first half 2016 when...Islamic Syndicated Financing for West Java International Airport Development
Seven Indonesian Islamic regional banks have approved financing via syndication for the development of West Java International Airport in Kertajati, Indonesia. The beneficiary of this syndicated financing is the West Java Regional Government (Pemprov Jabar)...The Ambivalent Indonesian Capital Market
Indonesia’s Islamic finance landscape is developing very slowly. One of the country’s biggest weaknesses is in its corporate Islamic capital market. When looking at raising funds, companies overwhelmingly turn to conventional bonds. However, MARC ROUSSOT...Indonesia Maintains Position As Leading Sovereign Sukuk Issuer
Government sukuk have been the leading instruments of the Indonesian Islamic finance industry since 2015. According to the Ministry of Finance (MoF)’s statistics, total government Sukuk issued as the 29th March 2017 stood as IDR664.53 trillion (US$49.91...