IslamicFinance.de

Indonesia, the world’s most- populous Muslim nation, is reviving sales of Islamic bonds two months after consecutive auctions fell short of target because of concern over insufficient trading volume.
Southeast Asia’s largest economy, home to more than 192 million Muslims, is seeking to develop its Islamic finance industry to catch up with Malaysia, the world’s biggest sukuk market. Indonesia’s finance ministry is seeking to spur growth in the market after sales dropped 9 percent in the first four months of the year from 2009, government data show. The Religious Affairs Ministry, which manages money collected from Muslims to fund pilgrimages to Mecca, will buy 2 trillion rupiah of the debt in a private placement next month.