| Indonesian finance ministry plans to raise 1 trillion rupiah (some 109.9 million U.S.dollars) in Islamic bond auction on March 27, in an effort to develop market for the Islamic instrument, the ministry said. The proceeds would be used to help plug the country's budget deficit this year.
Sales of Indonesia's Islamic bond on March 14 was oversubscribed with the amount of funds raised exceeding target with the number of bid received reaching 5.284 trillion rupiah ( some 576.54 million dollars) and the number of approval at 1.66 trillion rupiah (about 181.11 million dollars), higher than the initial target of 1 trillion rupiah (equal with 109.10 million dollars)...............................................Full Article: Source
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