Indonesia issues retail sukuk for COVID-19 economic recovery
JAKARTA – Indonesia’s finance ministry issued retail sukuk SR013 on Friday (August 28) as part of the government’s efforts to finance the recovery of the country’s pandemic-hit economy.
Indonesia’s GDP contracted 5.32% in the second quarter due to the COVID-19 pandemic crisis, representing the country’s worst quarterly performance since the 1998 Asian Financial Crisis.
The sukuk has an indicative value of 5 trillion rupiah ($342 million) and the subscription period will end on September 23.
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