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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Sumber Data Legal Information Team, Directorate of Legal Affairs
1/22/2010 5:48 AM
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Judul Bank Indonesia Circular Letter No.12/ 2 /DPM - Amendment to Circular Letter of Bank Indonesia Number 11/6/DPM dated February 10, 2009 concerning the Procedures for the Administration of Retail State Sharia Securities
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Regulation :
Circular Letter No.12/ 2 /DPM - Amendment to Circular Letter of Bank Indonesia Number 11/6/DPM dated February 10, 2009 concerning the Procedures for the Administration of Retail State Sharia Securities
Effective date :
January 22, 2010 I. PROCEDURES FOR THE ADMINISTRATION OF RETAIL STATE SUKUK A. Settlement of Retail State Sukuk in the Primary Market
It shall be made based on the stipulation of proceeds from the sale of Retail SBSN by the Director General of Debt Management for and on behalf of the Minister of Finance.
It shall be made by no later than 2 (two) business days as of the date of decision as intended in number 1.
The settlement procedures shall be as follows:
Fund settlement shall be made by debiting the settlement value from the paying Bank’s rupiah giro account with Bank Indonesia and crediting the settlement value to the Government’s rupiah giro account with Bank Indonesia; and
Securities settlement shall be made by registering the serial number of issuance of Retail State Sukuk in BI-SSSS in accordance with the terms and conditions stipulated by the Minister of Finance and crediting the Sub-Registry securities account designated by the Retail State Sukuk buying investor.
On the same day with the day of crediting to the Sub-Registry securities account, Sub-Registry must record the ownership of Retail State Sukuk on behalf of the investor obtaining individual Retail State Sukuk allotment in the Sub-Registry system. B. Payment of Yield and/or Nominal Value of Retail State Sukuk
It shall be made on the due date of the payment of Yield and/or Nominal Value based on the position of the ownership of Retail State Sukuk recorded in BI-SSSS 2 (two) Business Days prior to the aforementioned due date.
It shall be made by debiting the Government’s rupiah giro account with Bank Indonesia and crediting the Bank’s or Sub-Registry paying Bank’s or Sub-Registry’s rupiah giro account with Bank Indonesia.
On the same day with the day of payment as intended in number 1, Sub-Registry shall forward the payment of Yield and/or Nominal Value of Retail State Sukuk to the investor recorded in the Sub-Registry. C. Settlement of Retail State Sukuk Transaction in the Secondary Market
The settlement procedures for Retail State Sukuk transaction in the secondary market shall be in accordace with the provisions of Bank Indonesia regulating BI-SSSS. II. CLOSING PROVISION
The provisions in this Circular Letter shall come into effect as of January 22, 2010.
Lampiran Attachments
Lampiran 1 Bank Indonesia Circular Letter No.12/ 2 /DPM
Lampiran 2 FAQ - Bank Indonesia Circular Letter No.12/ 2 /DPM
Lampiran 3
Lampiran 4
Lampiran 5
Lampiran 6
Lampiran 7
Lampiran 8
Lampiran 9
Lampiran 10
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Kontak Legal Information Team, Ph. : (021) 2310108 ext : 8737, 7890, 7993, 4838
Halaman ini terakhir diperbarui 1/27/2021 9:15 PM
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