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By Farouk Abdullah Alwyni

The Indonesian Financial Service Authority, known by its Indonesian abbreviation as OJK, recently stated that it plans to study the possibility of developing rules, regulations and procedures for the issuance of retail corporate Sukuk. The retail corporate Sukuk is expected to accelerate the development of the Islamic capital market in the country. The lack of clear rules and regulations pertaining to the issuance of corporate Sukuk in Indonesia is cited as a major factor hampering the growth of the corporate Sukuk in the country.