Offer Cashback Of Up To IDR 30 Million, Commonwealth Bank Aims For SR018 Sales To Increase By 50 Percent

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Commonwealth targets an increase in sales of SR018 to 50 percent compared to the previous Retail Sukuk series.

Bank Commonwealth Head of Investment Business Daniel Arifin explained that this target was set because SR018 was different from the previous series.

It is known that the SR018 series has two tenor options, namely SR018T3 with a three-year tenor offered with a coupon rate of 6.25 percent still gross per year and SR018T5 with a five-year tenor offered with a coupon rate of 6.40 percent fixed gross per year.

"With the coupon level offered, we see that interest in SR018 will still be high," he said in an official statement, Tuesday, March 7.

Furthermore, Daniel explained, apart from the coupon rate which is higher than the average yield of three-year and five-year government bonds currently in the range of 6.0 to 6.2 percent, several other factors that can affect, among others, the current high level of banking liquidity, where based on LPS data, third-party funds (DPK) in January 2023 grew 8.03 percent yoy.

"This means that there is still a lot of liquidity in banking that has the potential to be invested in SR018 by investors to get a more attractive yield rate," explained Daniel.

Quoted from the announcement of the Directorate General of Financing and Risk Management of the Ministry of Finance, the purpose of issuing SR018 is to help finance the APBN, including financing infrastructure project development in Indonesia and expanding the base of domestic investors.

He added that the advantage of investing in SR018 was, among others, safe because it was guaranteed 100 percent by the state, affordable because it could start at Rp1 million, it had been stated in accordance with sharia principles by the National Sharia Council of the Indonesian Ulema Council, and could be done easily through the CommBank SmartWealth application.

Just so you know, SR018 is also a tradeable type of SBSN in the secondary market, so that in addition to the attractive coupon rate, investors also have the opportunity to get capital gains if there is an increase in prices in the secondary market.

In addition, with two tenor options, investors have alternatives in choosing investment instruments that suit the needs and term of investment they want.

"For customers who purchase SR018 through CommBank SmartWealth, Bank Commonwealth offers rewards in cashback in the form of up to Rp30 million," explained Daniel.

In addition to SR018, customers can also make purchase transactions or sales of other government bond series available in the secondary market practically and comfortably through the SmartWealth CommBank.