Jakarta Bank Syariah Indonesia (BSI) is targeting to sell Rp500 billion worth of sharia-compliant government retail bonds, or retail sukuk series SR014.
“Retail sukuk SR014, issued at a coupon of 5.47 percent, may become an interesting investment choice for the public. It is expected to be able to meet customers’ financial needs,” BSI president director Hery Gunardi said in a written statement released on Tuesday.
The directorate general of financing and risk management at the Finance Ministry has appointed BSI as a new distribution partner for the sale of sharia-compliant government retail bonds.
Gunardi said he hopes the new appointment will allow BSI to diversify banking product needs, particularly customer investments.
To achieve the SR014 sales target, the BSI has prepared a marketing strategy that includes pre-marketing and cross-selling to existing customers whose bonds are about to mature. In addition, BSI has also prepared online publication campaigns, including digital marketing, digital flyers or posters, and other publication media strategies for social media and other outdoor media.
Investing in SR014 offered by BSI will offer many advantages since the bank is offering wealth management products compliant with sharia principles, Gunardi said.
The SR014 series is quite attractive since it is a safe investment product with government-guaranteed coupon and principal, he added.
It also offers attractive returns with a competitive coupon and low tax that can be easily disbursed and it can also be traded in the secondary market, he said. As such, customers have the potential to receive capital gains, if the retail bonds fetch more than the initial purchasing price, he added.
The coupon comes with a fixed nominal value and will be paid every month, he informed.
The government launched BSI after merging the sharia-compliant subsidiaries of three state-owned lenders Bank Mandiri, Bank Negara Indonesia (BNI), and Bank Rakyat Indonesia (BRI) early in February this year.
Source: Antara News