BI Opens Repo for SMI Debt Securities, Transactions Hit Rp60 Billion

Bank Indonesia (BI) has recorded underlying repo transactions for Sharia Securities/Debt Securities issued by PT Sarana Multi Infrastress (Persero), known as SMI, amounting to Rp60 billion only two days after its launch.

The Governor of Bank Indonesia, Destry Damayanti, revealed that this policy was officially issued during the monthly Board of Governors Meeting on 26 September 2026.

“We have also issued this for SMI, Sarana Multi Infrastruktur, where these securities can be repoed to Bank Indonesia. It was only released on the 26th, and by the 28th, repo transactions of Rp60 billion had already occurred,” Destry stated during a press conference alongside the Minister of Housing and Residential Areas (PKP), Maruarar Sirait, at the BI Building on Friday (2/10/2026).

PT SMI is an entity under the Ministry of Finance that serves as a specialised financier for infrastructure and construction. Through this BI repo facility, banks holding SMI-issued securities can easily use those assets as collateral to obtain fresh liquidity from the central bank.

Destry explained that this step serves as a crucial support for the financing supply chain of housing and its supporting infrastructure.

“SMI also covers infrastructure, including construction. Therefore, for everyone and the Minister, this is a form of support from Bank Indonesia, and moving forward, we certainly want to continue strengthening this synergy,” she explained.

The policy for the underlying repo of SMI debt securities complements similar instruments previously implemented for PT Sarana Multigriya Finansial (Persero), or SMF. For SMF, which focuses on the secondary housing sector, repo transaction values at BI have surpassed Rp1.25 trillion, and have been able to boost the average daily transaction value of SMF securities by up to six times, reaching Rp180 billion per day.