Government Updates Mechanism for SBSN-Based Project Financing: Specific Requirements for BUMN Introduced

In an effort to accommodate further government and public requirements that relate to the utilization of government Islamic securities (Surat Berharga Syariah Negara – “SBSN”), the government has issued Regulation No. 16 of 2023 on Project Financing Through the Issuance of SBSN (“Regulation 16/2023”), which has been in force since 3 April 2023.[1] As its title suggests, Regulation 16/2023 addresses a wide range of matters that relate to activities that are integral to programs that are implemented by ministerial/non-ministerial agencies or recipients of SBSN forwarding  (“Projects”).[2]