Indonesian Citizens Flock to SR025 Retail Sukuk, Government Secures Rp29.7 Trillion
The Indonesian government has secured fresh funds amounting to Rp29.77 trillion from the sale of the SR025 series of retail State Sharia Securities (SBSN).
Suminto, the Director General of Financing and Risk Management at the Ministry of Finance, stated that the proceeds from the SR025 retail sukuk consist of the SR025T3 series (3-year tenor) amounting to Rp24.93 trillion and the SR025T5 series (5-year tenor) amounting to Rp4.83 trillion.
“The government has set the sales proceeds for SR025 as of 21 September 2026 at Rp29,770,058,000,000,” Suminto told CNBC Indonesia on Monday (21/9/2026).
Suminto revealed that from the offering period which ran from 21 August 2026 to 16 September 2026, the total number of investors purchasing the SR025 SBSN reached 93,548, the highest in the history of such issuances.
“This is the highest number throughout the history of retail SBSN issuances, and the highest sales volume in the last 10 years,” said Suminto.
Of this investor group, 21,582 individuals, or 23.07% of all investors, were recorded as new SBN (State Securities) investors.
“The investor base reaches all 38 provinces and is dominated by Gen Y or Millennials at 49.11% of the total investors, as well as women at 5abilities 56.66%. Orders for SR025 were dominated by private sector employees at 33.66%,” Suminto added.
For information, the rate of return or coupon offered by the government for SR025T3 is a fixed rate of 6.80% per annum. Meanwhile, for the longer-term series, namely SR025T5 (5 years), the offered return is higher at 6.90% per annum.
Both series utilise a fixed coupon scheme that is paid periodically every month to investors, specifically on the 10th of each month. If the 10th falls on a holiday or a non-banking business day, payment will be made on the next business day without additional interest or compensation.
The first interest payment for both series is scheduled for 10 October 2026, which will be calculated as a short coupon given that the issuance period is not yet a full month. The SR025T3 retail sukuk will mature on 10 September 2029, while the SR025T5 will mature on 10 September 2031.
In terms of investment size, the government has set a minimum order of Rp1 million and multiples thereof for both series. As for the maximum order limit, there is a difference between the two series: SR025T3 is capped at a maximum of Rp5 billion per investor, whereas SR025T5 is capped at a maximum of Rp10 billion per investor.
This scheme targets small to medium-scale individual investors, aligning with the government’s objective to encourage the deepening of the domestic financial market while expanding the domestic retail investor base.
The issuer of this instrument is the Indonesia SBSN Issuing Company, with underlying assets consisting of State Property (BMN) as well as projects/activities of Ministries/Agencies listed in the 2026 State Budget (APBN).