Indonesia's cenbank issues rule on sukuk
INDONESIA'S central bank has launched a new regulation that grant the trade of sharia bonds for its reverse repo operations, effective starting Dec 1, in a move aimed at deepening the local sukuk market.
The rule has the purpose to absorbe excess liquidity from the financial system. Indonesian sharia banks can aquire at least 1 billion rupiah (US$110,700) of sukuk from the central bank, for which they will collect transaction margins.
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