Sukuk is a Sharia-compliant Security (Efek) in the form of a certificate or proof of ownership of equal value that represents an undivided share (musya'/undivided share) in the underlying asset on which it is issued. It is issued in accordance with Sharia principles. This instrument offers an investment that complies with Sharia principles, providing a relatively stable rate of return (coupon), with a level of risk that is generally more measurable compared to equity instruments.
The entire structure and contract (akad) used in a Sukuk issuance is supervised by the Sharia Supervisory Board (Dewan Pengawas Syariah/DPS) and/or the Sharia Expert Team of the Issuer. Their role is to ensure that the underlying asset, the contract (akad), and all Sharia-related processes comply with Sharia principles, as set out in the fatwas issued by the National Sharia Board (Dewan Syariah Nasional/DSN) of the Indonesian Ulema Council (Majelis Ulama Indonesia/MUI).
Note:
Sukuk is a capital market product and is not a Bank product. As an investment instrument, Sukuk is not guaranteed by Maybank Indonesia with respect to its performance or the return of its investment value. Sukuk is also not covered under the deposit insurance program administered by the Indonesia Deposit Insurance Corporation (Lembaga Penjamin Simpanan/LPS). However, for Sovereign Sukuk (Sukuk Negara), the coupon payments and nominal value are guaranteed by the Government of the Republic of Indonesia, in accordance with the applicable laws and regulations.
| Convetional Bonds |
Sukuk |
| Are debt securities (evidence of a debtor–creditor relationship) between the Issuer and the Investor | Represent joint ownership of an asset/project (not a debtor–creditor relationship) |
| Do not require an underlying asset for issuance | Must have an underlying asset as the basis of issuance |
| Provide returns in the form of interest (coupon) | Provide returns based on Sharia contracts, such as Ujrah (Ijarah) or profit-sharing (Mudharabah and Musyarakah), and therefore do not constitute interest |
| May be used to finance any business activity according to the issuer's needs | Proceeds may only be used to finance activities/projects that comply with Sharia principles |
| Not supervised by a Sharia Supervisory Board | Must obtain a Sharia compliance opinion from the Sharia Supervisory Board (DPS) / Sharia Expert Team |
Issued based on Sharia contracts and supervised by the Sharia Supervisory Board as well as the Financial Services Authority (Otoritas Jasa Keuangan/OJK).
Every Sukuk issuance is backed by a real asset, project, or business activity that serves as the underlying basis of the issuance (underlying asset).
Offers a competitive rate of return (coupon) in accordance with the applicable Sharia contract and issuance terms.
For State Sukuk (Sukuk Negara) specifically, coupon payments and nominal value are guaranteed by the Government of the Republic of Indonesia in accordance with the applicable laws and regulations.
Proceeds from Sukuk issuance are used to finance projects or business activities that comply with Sharia principles, including national development through State Sukuk as well as the financing of business activities by Corporate Sukuk issuers.
| Types of Sukuk |
Product Name |
| Sovereign Sukuk | Retail Sukuk SR-series |
| Savings Sukuk ST-series | |
| Project Based Sukuk (PBS) | |
| Global Sukuk (USD) | Indonesia Global Sukuk (Republic of Indonesia Sukuk) |
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Investment in Sukuk also involves risks that need to be considered, including:
Disclaimer:
Sukuk is not a product issued by PT Bank Maybank Indonesia Tbk. In this regard, PT Bank Maybank Indonesia Tbk. only acts as a Selling Agent. This information is merely a summary of the product features and characteristics, and therefore cannot be considered as the full product disclosure document. Please contact our Relationship Manager for more complete information.
Investment in Sukuk is not covered under the Government Deposit Insurance Program (LPS). This information is general in nature only and cannot be considered as an offer, recommendation, or request to enter into any transaction or to perform hedging, trading, or any investment strategy related to any securities or financial instruments.
This information is only a general evaluation and does not take into account specific investment objectives, financial situations, or the particular needs of any individual or group, and is not prepared for any specific individual or group.
Foreign currency transactions carry the risk of foreign exchange market movements. You are required to read and understand the risks associated with the transaction before transacting with the Bank. The Bank is not responsible for any losses you may incur as a result of the decisions you make.
Investing in Sukuk involves Market Risk, Interest Rate Risk, Liquidity Risk, Credit Risk, and other risks, including the possibility of losing the entire principal of the Sukuk investment. Investors are required to read and understand all risk factors, fees, and other detailed matters before deciding to invest in Sukuk.
Past performance of Sukuk is not necessarily indicative of future performance, as Sukuk prices may be determined by market conditions, country conditions, and other factors.
