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SUKUK - JAKARTA. Towards the end of the retail offering of State Sharia Securities (SBSN) series SR017 on September 14th, 2022, the public’s enthusiasm in investing on instruments that are 100% guaranteed by the state is very high. As of September 7th, 2022, sales of SR017 which was initially targeted by the government at Rp10 trillion have exceeded the Rp22 trillion figure. The national order quota has also increased up to Rp23 trillion.
Bibit.id PR & Corporate Communication Lead, William, said that one of the attractions of the SR017 lies in the fixed rate yield (coupon) at 5.90% per year with a three-year tenor. This figure is considered quite high compared to the average interest rate for state-owned banks and the reference interest rate of Bank Indonesia, which is currently 3.75%.
As a Distribution Partner for the Sale of Government Securities officially appointed by the Ministry of Finance of the Republic of Indonesia, Bibit is ready to assist the public in purchasing/ordering SR017. “Given the unstable economic conditions, investors see SR017 as an alternative stable passive income. In addition, SR017 also allows investors to sell it on the secondary market before maturity,” said William in press release, Friday (9/9).
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The minimum purchase/order for SR017 is at Rp 1 million and maximum is Rp 5 billion (in multiples of Rp 1 million). To be able to purchase SR017 on the Bibit application or website, users can simply click on the “State Securities (SBN)” icon or banner on the application homepage and on the Bibit website. In this case, Bibit partners with Stockbit Sekuritas to manage the recording and storage of investors' SBN Investor Fund Accounts.
Later, after investors make payments for SBN transactions, investors will receive proof of transactions in the form of Proof of State Revenue (BPN). In the BPN, there is a State Receipt Number (NTPN) which is issued directly by the state as well as proof of ownership of the purchased SBN.
“As the SBN Sales Distribution Partner, Bibit makes the SBN purchase process very easy because it only takes a few clicks and can be done from home. This convenience also makes millennial investors more interested in investing on SR017,” William added.
On the other hand, the tax imposed on the SR017 yield is only 10%, lower than the 20% deposit tax. With relatively lower taxes and guaranteed security because it is 100% guaranteed by the state, retail investors, especially those with a preference for Sharia investment instruments, are busy investing in SR017.
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Separately, the Director of Sharia Financing DJPPR Ministry of Finance of the Republic of Indonesia, Dwi Irianti Hadiningdyah, expressed that the government's hope that the issuance of SR017 can increase the participation of investors from Indonesia in developing the country, increase the resilience of the domestic financial market and reduce dependence on foreign investors.
"Many Indonesians are familiar with retail Sukuk, there are even investors who have become Friends of Sukuk, namely investors who are loyal to invest in retail Sukuk issued by the government," Dwi concluded.
