Indonesia Raises Rp15 Trillion via Retail Sukuk Issuance

Jakarta, 11 December 2025 – The Indonesian government raised Rp15 trillion by issuing two retail sovereign sukuk, the 2‑year Savings Sukuk ST015T2 and the 4‑year Green Sukuk ST015T4, between 10 November and 3 December 2025. The issuance was conducted under a wakalah (agency) contract and backed by state‑owned assets and APBN (state budget) projects, including environmentally‑friendly projects. The sukuk offered floating rates with a floor, guaranteeing a minimum return for investors.

The Directorate General of Financing and Risk Management (DJPPR) reported that ST015T2 amounted to Rp11 trillion and ST015T4 to Rp4 trillion, forming part of the 2025 APBN financing strategy. Yields were set at 5.20% per annum for the 2‑year sukuk and 5.45% per annum for the 4‑year sukuk. Both instruments are secured by government‑owned assets and APBN projects, including green initiatives.

The offering attracted 50,642 investors, nearly half of whom are millennials. About 39.34% of the maturing ST011T2 amount was reinvested into the new ST015 series, indicating strong continued demand. This issuance supports the government's goal to deepen the domestic financial market, expand the retail investor base, and shift society toward an investment‑oriented mindset.