Government Updates Mechanism for SBSN-Based Project Financing: Specific Requirements for BUMN Introduced

In an effort to accommodate further government and public requirements that relate to the utilization of government Islamic securities (Surat Berharga Syariah Negara– “ SBSN ”), the government has issued Regulation No. 16 of 2023 on Project Financing Through the Issuance of SBSN (“ Regulation 16/2023 ”), which has been in force since 3 April 2023. [1] As its title suggests, Regulation 16/2023 addresses a wide range of matters that relate to activities that are integral to programs that are implemented by ministerial/non-ministerial agencies or recipients of SBSN forwarding  (“ Projects ”). [2]