Thursday, March 12, 2009

Global Sukuk Less Right

Head of Economic and Market Analyst for Asia Pacific, Citicorp, Johanna Chua, said, at this time is less appropriate when the Indonesian government issued a global Sukuk. The reason, market conditions in the world is still uncertain.

"In this time of uncertainty, where risks are still growing, on the other hand many companies or countries that issue securities to finance their economic crisis which was at this time, less appropriate when Indonesia Sukuk issued globally," he said in Jakarta on Wednesday (11 / 3).

He added that high global uncertainty created lopsided results Sukuk certainly will be more likely to attract investors. Moreover, according to him, then when the Sukuk has a tenor that is quite long.

According to him, at this time, almost all countries to compete for funds in the market. Moreover, the U.S. also need funds to pay for the losses due to the economic crisis that jump. "This is less profitable," he said.

According to him, Indonesia is better utilize facilities such as loans that have been provided IMF to developing countries. "Facility loans up to now has not been touched by many developing countries, this can be used by Indonesia," he said.

Meanwhile, the government plans Sukuk issue to finance the global budget shopping. According to the Director of Syariah Financing Directorate General Ministry of Finance debt management, Siamat Dahlan, are in fact global Sukuk has been planned since 2008, but until now has not been executed.

Sukuk globally, according to him, have underlying assets (asset Jaminan) around Rp 7 trillion. Sukuk This according to him is for institutional investors.

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