Overview

Recently, the Indonesian Government issued and commenced the auction of another series of government Islamic securities (surat berharga syariah negara/SBSN), known as government sukuk, with an indicative target of IDR 8 trillion.[1] This issuance and auction of government sukuk represents part of the Indonesian Government’s attempts to meet its funding target under the state budget (anggaran pembelian dan belanja negara – “APBN”) for 2020,[2] which has now been adjusted due to the economic impact of the ongoing COVID-19 pandemic through the issuance of Regulation of the President No. 54 of 2020 and its amendment[3] (collectively referred to as “Regulation 54/2020”).[4]