Indonesia has sold more than 850 million dollars worth of Islamic bonds to domestic retail investors, three-times more than its target, officials said Monday.

The bonds, or sukuk, will mature in three years and pay 8.7 percent, finance ministry director for debt Rahmat Waluyanto told reporters.

"The government earlier targeted to sell three trillion rupiah (318 million dollars) worth, as we're conservative. But we managed to sell 8.033 trillion rupiah," he added.

A total of 17,231 investors took part, he said.

"About 9,055 investors bought up to 100 million rupiah worth of sukuk. The top investor bought 25 billion rupiah worth. It seems that our investors are quite prosperous," Waluyanto said.