After no new issuance for Indonesia’s corporate Sukuk up until the end of the first quarter of 2015, BNI Syariah, the subsidiary of the third-largest state-owned bank in the country, i.e. Bank Negara Indonesia (BNI), issued its fi rst Sukuk in the amount of IDR500 billion (US$37.95 million). It was reported that on the basis of the initial book-building period (15th-29th April), this Mudarabah Sukuk with an indicative return equivalent to around 9.25% p.a. was already 259% oversubscribed.
