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The financial and economic crisis in America has affected emerging market (such as Indonesia). Indonesia now is lacking liquidity funds to finance its economic development. US Federal Government has bailed out and helped most multinational corporations to avoid bankruptcy and to stimlat economic growth. To fulfill the need for development financing, Indonesia may consider Islamic products financing that has been known in International financial market such as SUKUK. Fortunately, Indonesia
has ratified SUKUK Act therefore, Indonesia may issue an Islamic financial scheme. The funds owned by a number of Middle Eeast investors as well as western investors
have invested in Islamic scheme finance. So SUKUK can be another alternative that can be offered by Indonesian government as a source of public funds to finance economic development.

Keywords: Sukuk, Islamic Finance, SBSN, Public Finance.

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