REPUBLIKA.CO.ID, JAKARTA – The trade of retail sukuk (SR-004) in Islamic bank is mainly absorbed by big investors while the market segment is intended for retail market. The retail investors failed to absorb the product.

BRI Syariah has sold SR-004 for 10 billion IDR in a week. The value is only 20 percent from trading target of SR-004 BRI Syariah, which is 50 billion IDR.

Group Head Treasury BRI Syariah Amir Fukadi admits SR-004 is mainly absorbed by big investors as shown in big cities. Retail investors that absorb SR-004 come from small towns. “The segment tends to be dominated by big investors,” he said on Tuesday.

Good public response on SR-004 was initially seen as a good sign that the sukuk was interesting investment instrument. “From the trade, SR-004 is seen as interesting investment, but retail investors in big cities rarely absorb it,” he said.

Fukadi suspected, then SR-004 became less attractive because various choices of investment instrument in big cities, while in small towns the instruments were limited. “Retail sukuk should have been aimed for small towns,” he added.

Bank Muamalat sold 50 billion IDR of SR-004 in a week. The achievement was less than expected, the Director of Financial and Operational of Bank Muamalat, Hendiarto said. “Several investors still resist due to inappropriate momentum,” Hendiarto said. 

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