Indonesia: Regulator to urge insurers to invest in Eximbank securities
Source: Asia Insurance Review | Mar 2017
The Financial Services Authority (OJK) will encourage investments by insurance companies and pension funds in securities issued by the Indonesian Export Financing Agency (LPEI), or Indonesia Eximbank, to support its export promotion programmes.
Mr Firdaus Djaelani, Chief Executive of Supervision of Non-Bank Financial Industry at OJK, said it would soon put out “a rule that states that LPEI securities issued will be required to be held by insurance companies and pension funds.”
He said that a circular will also be distributed to state that Eximbank securities will be synchronised with those of Government Securities (SBN).
Eximbank has announced that it will issue US$1.55 billion in debt paper to support its activities this year.