Infrastructure Financing through Islamic
Finance in the Islamic Countries
83
Table 4.1. 7: Islamic Banks Assets Composition and Financing of Infrastructure Sector
(2018: Q1) (IDR billion)
Total Islamic Banking Assets
Asset Composition IDR
(Billion)
% of
total
Total Shariah-compliant
financing (excluding interbank
financing)
190,063.6 64.6%
Sukūk holdings 26,452.6 9.0%
Other Sharī`ah-compliant
securities
3,879.4 1.3%
Interbank financing 5,784.7 2.0%
All other assets 68,087.1 23.1%
Total assets 294,267.4 100%
Infrastructure Financing by Islamic Banks
Financing going to infrastructure IDR
(Billion)
% of
total
Electricity, gas, steam and air-
conditioning supply
8,162.5 2.8%
Water supply, sewerage, and
waste management
439.9 0.1%
Transportation and storage 7,372.2 2.5%
Information and
communication
1,045.0 0.4%
Education 4,069.8 1.4%
Human health and social work
activities
3,574.4 1.2%
Total 24,663.8 8.4%
Source: IFSB PSIFI.
Chart 4.1. 8: Types and Annual Issuance Values of SBSN (IDR trillion)
Source: Ministry of Finance Monthly report 2018
As indicated in Chart 4.1.5, the total financial needs for infrastructure financing over the 2015-
2019 period is USD 342.57 billion, out of which the government plans to finance around 41%,
SEOs are estimated to finance 22%, and the remaining 37% is projected to be raised by the
private sector. The government finances a significant part of the projects by issuing
government securities, both bonds and sukuk. Government bonds dominate at IDR 1701
trillion (USD 121.5 billion) and this is followed by government sukuk (commonly called SBSN)
with IDR 277 trillion (USD19.78 billion) which is 14% of the total government securities.
0 50 100 150 200 250
Project Based Sukuk (PBS)
Hajj (Pligrimage) Fund Sukuk (SDHI)
Indonesian National Sukuk (SNI)
Sovereign treasury Notes Sukuk (SPNS)
Non-tradeable Sovereign treasury Notes Sukuk…
Retail Sukuk (SR)
Saving Sukuk (ST)
Project Based
Sukuk (PBS)
Hajj
(Pligrimage)
Fund Sukuk
(SDHI)
Indonesian
National Sukuk
(SNI)
Sovereign
treasury Notes
Sukuk (SPNS)
Non-tradeable
Sovereign
treasury Notes
Sukuk (SPNSNT)
Retail Sukuk
(SR)
Saving Sukuk
(ST)
2013 9.3 0 17.2 11.7 0 15 0
2014 9.4 12.9 17.7 16.2 0 19.3 0
2015 47.2 4.5 26.4 14.3 5.1 22 0
2016 90.9 1 33.4 17 2.5 31.5 2.6
2017 91.8 2 40 44.7 0 14 0