JAKARTA Jan 9 Indonesia has barred investment
bank JPMorgan Chase & Co from submitting an underwriting
proposal for its next U.S. dollar sukuk issuance, a finance
ministry official said on Monday.
"The point is (JPMorgan) will no longer do business with the
government," said Suahasil Nazara, head of the fiscal policy
office at the ministry of finance.
The comments come after a November downgrade by the U.S.
bank in its Indonesian stocks recommendation to "underweight"
The government has asked other banks to submit proposals by
Thursday for a planned U.S. dollar sukuk offering, IFR, a
Thomson Reuters publication wrote on Monday.
(Reporting by Hidayat Setiaji; Writing by Kanupriya Kapoor;
Editing by Jacqueline Wong)