Bank Indonesia Circular Letter Number 11/6/DPM - Administration Procedures of Retail Government Sharia Securities - Bank Sentral Republik Indonesia
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September 25, 2020
Summary Bank Indonesia Laws

Regulation : Bank Indonesia Circular Letter Number 11/6/DPM - Administration Procedures of Retail Government Sharia Securities
Effective date : February 10, 2009
Summary :
I. Administration Procedures of Retail Government Sukuk
  1. Settlement of Retail Government Sukuk in the Primary Market
    1. It is based on selling results determined by the Director General of Debt Management for and on behalf of the Minister of Finance of the Republic of Indonesia
    2. It is conducted no later than 2 (two) business days after the date of determination as referred to in number 1.
    3. Settlement Procedures
      1. Selling Agent (if not a bank, it shall submit information of paying bank to Bank Indonesia, c.q. DPM-PTPM) conducts payment through the BI-RTGS System to rupiah demand deposit account of the Government with Bank Indonesia number 500.000003 “Menteri Keuangan Penerimaan Penerbitan Surat Berharga Negara” amounting to the value of allotment received, with a time limit up to 10.00 a.m. (western Indonesia standard time) on the settlement date.
      2. Selling Agent submits payment evidence as referred to in letter a to PTPM Division.
      3. Based on the payment evidence, PTPM Division registers the issuance of Retail Government Sukuk series in the BI-SSSS and credits securities account of the Sub-Registry designated by the investor buying the Retail Government Sukuk.
      4. The Sub-Registry registers Retail Government Sukuk ownership on behalf of investor which receives allocation of the Retail Government Sukuk on individual basis in the Sub-Registry system; and
      5. On the same day the Sub-Registry transmits a detailed list of Retail Government Sukuk individual investors, specifying Account Identifier (AId), name of customer, securities code, investor status, investor type, and transaction nominal value, to Bank Indonesia, c.q. DPM-PTPM, by e-mail
  2. Payment of Retail Government Sukuk Coupon and/or Nominal Value
    1. It is conducted on the maturity date of coupon and/or nominal value payment based on Retail Government Sukuk ownership position registered in the BI-SSSS on 2 (two) business days prior to the maturity date.
    2. It is conducted by debiting rupiah demand deposit account of the Government with Bank Indonesia and crediting rupiah demand deposit account of Bank or Sub-Registry paying Bank or Sub-Registry in Bank Indonesia.
    3. On the day of the payment as referred to in number 1, the Sub-Registry forwards the payment of Retail Government Sukuk Coupon and/or Nominal Value to investor registered in the Sub-Registry
  3. Settlement of Retail Government Sukuk Transaction in Secondary Market Settlement procedures of Retail Government Sukuk transaction in secondary market refers to Bank Indonesia provisions regulating the BI-SSSS
II. Concluding Provision
Provisions in this Circular Letter shall come into force as of February 10, 2009.
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