New sukuk law passed to facilitate funding in Indonesia


Indonesia's parliament passed a law on Islamic debt financing in April, which will open up a new and potentially lucrative funding source for both the government and companies in the world's most populous Muslim country.

The country's finance ministry has already said it will raise as much as $1 billion in October with the issue of dollar sukuk and $1 billion with rupiah Islamic bonds in August.

Indonesia is battling a ballooning budget deficit and soaring inflation. Sukuk should enable the

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