ID :
12959
Sat, 07/19/2008 - 00:02
Auther :
Shortlink :
http://m.oananews.org//node/12959
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GOVT SELECTING PROSPECTIVE DEALERS OF ITS LOCAL SHARIA BONDS
Jakarta, July 18 (ANTARA) - The government is selecting prospective dealers of its first-ever rupiah-denominated sharia bonds to be issued in August, a Finance Ministry official said.
"We have already extended invitations to 11 prospective dealers, both local institutions and foreign investment banks," Director General of Debt Management at the Finance Ministry Rahmat Waluyanto said here on Friday.
But he stopped short of naming the 11 prospective dealers, adding five of them were foreign institutions.
"Four of the 11 institutions have so far been primary dealers of state bonds," he said.
He said the government would soon appoint a law consultant in the issuance of the rupiah-denominated sharia bonds.
"When the government issued its first-ever state bonds (SUN) in December 2002, it only appointed dealers. But now to issue state sharia bonds it will also appoint a law consultant to deal with various legal aspects related to sharia law," he said.
He said at least 10 domestic law consultants had applied for the post.
The government expects the law consultant and dealers will be appointed by July 29 at the latest.
To issue state sharia bonds, the House of Representatives (DPR) had given a seal of approval to the government to use state assets worth Rp18.3 trillion at the Finance Ministry as underlying assets, Rahmat said.
"We have secured a permit from the DPR to use state assets in the form of land and buildings worth Rp18.3 trillion for the purpose," he said.
"We have already extended invitations to 11 prospective dealers, both local institutions and foreign investment banks," Director General of Debt Management at the Finance Ministry Rahmat Waluyanto said here on Friday.
But he stopped short of naming the 11 prospective dealers, adding five of them were foreign institutions.
"Four of the 11 institutions have so far been primary dealers of state bonds," he said.
He said the government would soon appoint a law consultant in the issuance of the rupiah-denominated sharia bonds.
"When the government issued its first-ever state bonds (SUN) in December 2002, it only appointed dealers. But now to issue state sharia bonds it will also appoint a law consultant to deal with various legal aspects related to sharia law," he said.
He said at least 10 domestic law consultants had applied for the post.
The government expects the law consultant and dealers will be appointed by July 29 at the latest.
To issue state sharia bonds, the House of Representatives (DPR) had given a seal of approval to the government to use state assets worth Rp18.3 trillion at the Finance Ministry as underlying assets, Rahmat said.
"We have secured a permit from the DPR to use state assets in the form of land and buildings worth Rp18.3 trillion for the purpose," he said.
