Indonesia pushes 53 state-owned infrastructure firms to tap 'sukuk' route to raise funds

Indonesian Financial Services Authority (OJK) is calling for 53 out of 119 state-owned firms operating in the infrastructure sector to issue more Islamic bonds or sukuk. The lower yield, lower risk investment instrument is still merely seen as an alternative source of funds by private companies in the world’s largest Muslim nation, with an amount well below its counterparts Malaysia and Saudi Arabia.