Regulatory Alerts2010-01-22
Bank Indonesia Circular Letter No. 12/2/DPM Amending Procedures for Retail State Sharia Securities
Bank Indonesia issued Circular Letter No. 12/2/DPM to amend the procedures for administering Retail State Sharia Securities (Sukuk). The regulation mandates that primary market settlement occurs within two business days via fund debiting and securities crediting in the BI-SSSS system. It further requires that yield and nominal value payments be processed based on ownership records held two business days prior to the due date.
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