Govt to Launch SR020 Retail Sukuk Amid Ramadan

SR020 retail sukuk is set to be issued in early March 2024, with a coupon rate predicted to be around 6.2 percent.

Rizqi Rajendra

26 Feb 2024 - 19.14
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Govt to Launch SR020 Retail Sukuk Amid Ramadan

Illustration - Retail sukuk./Bisnis-Abdul Rahman.

Bisnis, JAKARTA — The SR020 retail “sukuk” or sharia bond will be issued in conjunction with the Ramadan month of 1445 H at the beginning of March 2024. The SR020 coupon is predicted to be in the range of 6.2 percent to 6.4 percent.

Anugerah Sekuritas Fixed Income Associate Director Ramdhan Ario Maruto predicts the SR020 coupon to be around 6.2 percent if released with a tenor of three years and 6.4 percent for five years, based on the current hawkish climate.

In its latest policymaker meeting, Bank Indonesia (BI) maintained its benchmark interest rate, or BI rate, at 6 percent. In comparison, the US Federal Reserve has also kept its benchmark interest rate in the range of 5.25 percent to 5.5 percent.

Based on what I saw in their minutes yesterday, the Fed will only lower its interest rates in the second half of 2024. This is related to the global situation and the US economic conditions, and BI will follow suit," Ramdhan told Bisnis on Friday (2/23/2024).

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.