Indonesia is firmly on course to expand on its entrance into the Islamic finance market with the issue of its second sukuk in two years. The move will take it a step closer to rival Malaysia, and provide the country’s coffers with an alternative source of income amid the international financial turmoil.
The final timing hasn’t been confirmed. Fluctuating fortunes in the financial markets are no doubt playing a part over the issue, which is expected to raise more than $500 million, mainly from the Middle East. According to reports, the plan has been mandated by HSBC, Citigroup and Standard Chartered……………………………………….Full Article: Source