Blockchain Sukuk facility delivers 15.5% gross return

Islamic cooperative KSPPS BMT Bina Ummah’s IDR715 million (US$48,671.9) one-year Sukuk Mudarabah facility, issued via Blossom Finance’s SmartSukuk platform, has generated a 15.5% cumulative annualized gross investor return for the first nine months since issuance. According to a statement, this represents a cumulative realized profits distribution of IDR81 million (US$5,513.88). Proceeds from the Sukuk have been used to fund 234 micro businesses.