State Sharia Securities Auction Plans Now Include Maximum Targets and Settlement Dates: New Fallback Pricing Introduced

The Minister of Finance (“Minister”) has issued Regulation No. 65 of 2026 on the Amendment (“Amendment”) to Regulation of the Minister No. 195/PMK.08/2020 on the Auction of State Sharia Securities (Surat Berharga Syariah Negara – “SBSN”) in the Domestic Primary Market (“Regulation 195/2020”) to update the previously established Regulation 195/2020. The Amendment is intended to optimize the implementation of SBSN auctions in the domestic primary market and adjust the framework to developments in financial market conditions.[1]s