Latest news with #IILM
Time of India
31-07-2025
- Business
- Time of India
IILM University and Dusit Thani College Thailand launch global hospitality program in India
IILM University and Dusit Thani College Thailand launch global hospitality program in India In a transformative move set to redefine hospitality education in India, IILM University proudly announces its strategic collaboration with Dusit Hospitality Education Thailand, the academic arm of Southeast Asia's leading hospitality brand, Dusit International. This alliance will introduce global-quality learning experiences, cross-border mobility, and luxury industry exposure for Indian students, right in the heart of Delhi NCR. Under the newly signed Memorandum of Understanding (MoU), IILM and Dusit Thani College Bangkok will jointly deliver a world-class BBA (Hons) in Hospitality and Services Management, complete with international internships, dual-degree pathways, and multicultural learning environments. Why this partnership is a game-changer for hospitality education in India? This partnership brings together IILM 's academic excellence and Dusit 's global expertise in hospitality education and luxury hospitality, offering Indian students unparalleled opportunities: Internships with global brands: Students will access internships across Dusit International's five-star properties in Thailand, the Middle East, and beyond. International pathways: Students can pursue two years at IILM and complete the remaining at Dusit Thani College in Bangkok, earning a globally recognised degree. Semester exchange and short-term global visits: Exposure to international hospitality operations and cultural immersion through structured exchange programs. Hands-on learning in real hotels: With work-integrated learning as a cornerstone, students train in actual hotel environments under the mentorship of seasoned professionals. Building global-ready hospitality talent in India: This collaboration marks a pivotal step toward nurturing globally competent hospitality leaders from India,' said Nakul Anand, Guide and Mentor, School of Hospitality and Service Management, IILM University. 'By combining Dusit's global expertise with IILM's commitment to excellence, we're offering students not just education, but an immersive, real-world experience—where luxury hospitality is lived, not just learned. ' As one of Asia's oldest and most respected hotel schools, Dusit Thani College Bangkok brings decades of expertise in creating job-ready professionals across hospitality and culinary arts. A global network and a future-focused curriculum: The students will also benefit from: Curricula co-designed by industry experts, ensuring alignment with the latest trends in hospitality, F&B innovation, sustainability, and digital service delivery. Faculty and student exchange initiatives: Facilitating intercultural learning and cross-campus collaboration. A new era for hospitality students in India: With India poised to become one of the fastest-growing travel and hospitality markets, this collaboration comes at a pivotal time. Students from India will no longer have to travel abroad to access world-class hospitality education—it is now available at IILM University, with the global stage as their classroom. Admissions for the 2025 intake are now open. Limited seats. Apply now to begin your global hospitality journey. About IILM University: Located in the education hub of Gurugram, IILM University is a leading institution known for its interdisciplinary education, global linkages, and strong industry partnerships. Its newly launched School of Hospitality and Service Management is poised to become a game-changer in luxury and service-sector education in India. Inside the IILM Experience | Real Student Stories | Admissions 2025 Open . . Why IILM University? Top Campus, Courses, and Career Opportunities | Admissions Open 2025 About Dusit Hospitality Education: Founded by Dusit International, Dusit Hospitality Education Thailand includes Dusit Thani College, Dusit Hospitality Academy, and The Food School Bangkok. With operations across four continents and over 75 years of excellence in luxury hospitality, Dusit is Southeast Asia's top choice for students aspiring to world-class careers. Disclaimer - The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Zawya
22-07-2025
- Business
- Zawya
The IILM's USD800mln short-term Ṣukūk oversubscribed by 2.3 times
Kuala Lumpur, Malaysia. The International Islamic Liquidity Management Corporation (IILM), an international organisation that develops and issues short-term Shari'ah-compliant financial instruments, has successfully completed the reissuance of an aggregate USD 800 million short-term Ṣukūk across three different tenors of two-week, three-month, and six-month respectively. The three series were priced competitively at: 4.40% for USD 305 million for 2-week tenor; 4.49% for USD 355 million for 3-month tenor; and, 4.38% for USD 140 million for 6-month tenor Today's successful completion of the short-term Ṣukūk transaction marks the IILM's thirteenth auction year-to-date with a cumulative issuance of USD 13.15 billion, across 39 Ṣukūk series of varying tenors. The auction attracted robust participation from the IILM's network of Primary Dealers and global investors, generating total bids of USD 1.9 billion and achieving a strong average bid-to-cover ratio of 2.3 times. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, commented: 'Today's auction outcome underscores the continued strength of investor demand for high-quality Islamic liquidity instruments, despite ongoing uncertainty surrounding the US Federal Reserve's rate trajectory and broader shifts in global monetary policy. Market participants remain cautious as central banks weigh persistent inflationary pressures against signs of moderating economic growth. 'The IILM's consistent ability to attract strong participation across all tenors reflects the market's confidence in our Ṣukūk programme as a dependable tool for short-term liquidity management. As global financial conditions remain uneven, the role of stable and Shari'ah-compliant instruments such as ours will become increasingly vital.' The issuance forms part of the IILM's 'A-1' (S&P) and 'F1' (Fitch Ratings) rated USD 6 billion short-term Ṣukūk issuance programme. The IILM's short-term Sukῡk is distributed by a diversified and growing network of primary dealers globally, namely Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank. The IILM is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services. The IILM will continue to reissue its short-term liquidity instruments monthly as scheduled in its issuance calendar. About the IILM The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shari'ah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services (IIFS). The current members of the IILM Governing Board are the central banks and monetary agencies of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector. Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations. The IILM is hosted by Malaysia and headquartered in Kuala Lumpur.
Barnama
22-07-2025
- Business
- Barnama
IILM's US$800 Mln Short-term Sukuk Oversubscribed 2.3 Times
BUSINESS KUALA LUMPUR, July 22 (Bernama) -- The International Islamic Liquidity Management Corporation (IILM) has reissued a total of US$800 million (US$1=RM4.23) in short-term sukuk across three tenors, with the offering oversubscribed by 2.3 times. In a statement today, IILM said the auction attracted US$1.9 billion in bids from its network of primary dealers and global investors. It said the issuance comprised a US$305 million two-week tenor at 4.40 per cent, a US$355 million three-month tenor at 4.49 per cent, and a US$140 million six-month tenor at 4.38 per cent. 'Today's successful completion of the short-term sukuk transaction marks the IILM's 13th auction year-to-date with a cumulative issuance of US$13.15 billion across 39 sukuk series of varying tenors,' IILM said. Chief executive officer Mohamad Safri Shahul Hamid said the outcome reflected continued investor interest in shariah-compliant liquidity instruments, despite prevailing global uncertainties. 'Today's auction outcome underscores the continued strength of investor demand for high-quality Islamic liquidity instruments, despite ongoing uncertainty surrounding the United States (US) Federal Reserve's rate trajectory and broader shifts in global monetary policy,' he said. Mohamad Safri added that financial markets remain cautious as central banks weigh persistent inflationary pressures against signs of moderating economic growth. 'The IILM's consistent ability to attract strong participation across all tenors reflects the market's confidence in our sukuk programme as a dependable tool for short-term liquidity management,' he said. The IILM's short-term sukuk programme is rated A-1 by S&P Global Ratings and F1 by Fitch Ratings, with a total issuance limit of US$6 billion.
Zawya
09-07-2025
- Business
- Zawya
IILM attracts robust global demand in latest $880mln sukuk reissuance
Kuala Lumpur, Malaysia – The International Islamic Liquidity Management Corporation (IILM), an international organisation that develops and issues short-term Shari'ah-compliant financial instruments, has successfully completed the reissuance of an aggregate USD 880 million short-term Ṣukūk across three different tenors of one, three, and six-month respectively. The three series were priced competitively at: 4.45% for USD 350 million for 1-month tenor; 4.45% for USD 310 million for 3-month tenor; and, 4.30% for USD 220 million for 6-month tenor Today's successful completion of the short-term Ṣukūk transaction brings the IILM's year-to-date cumulative issuance to USD 12.35 billion, across 36 Ṣukūk series of varying tenors. This marks 95% of the IILM's total cumulative issuance for the whole of 2024, and 60% of the expected total for 2025. The auction attracted robust participation from the IILM's network of Primary Dealers and global investors, generating total bids of USD 2.251 billion and achieving a strong average bid-to-cover ratio of 2.56 times — the highest recorded so far in 2025. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, commented: 'The exceptionally strong outcome of today's auction – amid ongoing global tensions, heightened geopolitical risks in parts of the Middle East, and divergent liquidity conditions across markets – underscores the resilience and continued relevance of the IILM short-term Ṣukūk growth in addressing cross-border Islamic liquidity needs.' 'We are particularly encouraged by the solid demand across all three tenors, which were fully subscribed shortly after the book opened. This reflects deep and overwhelming liquidity appetite and reinforces investor confidence in the IILM's issuance programme. It also reaffirms the role of our instruments as reliable tools for financial institutions navigating today's uncertain macroeconomic landscape.' 'The IILM remains firmly committed to supporting stability in the Islamic money markets through regular, high-quality issuance that aligns with the evolving needs of our global investor base.' The issuance forms part of the IILM's 'A-1' (S&P) and 'F1' (Fitch Ratings) rated USD 6 billion short-term Ṣukūk issuance programme. The IILM's short-term Sukῡk is distributed by a diversified and growing network of primary dealers globally, namely Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank. The IILM is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services. The IILM will continue to reissue its short-term liquidity instruments monthly as scheduled in its issuance calendar. About the IILM The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shari'ah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services (IIFS). The current members of the IILM Governing Board are the central banks and monetary agencies of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector. Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations. The IILM is hosted by Malaysia and headquartered in Kuala Lumpur. Media Enquiries: The International Islamic Liquidity Management Corporation (IILM) E: corpcomm@ info@ Website: Please follow us on social media for up-to-date information on the IILM: Twitter : Linked in :
Zawya
26-06-2025
- Business
- Zawya
Fitch rates International Islamic Liquidity Management 2 SA's ABCP 'F1sf'
RELATED TOPICS ISLAMIC FINANCE RELATED COMPANIES International Is Intl Islamic LM2 Fitch Ratings - Tokyo - Fitch Ratings has assigned ratings to the trust certificates issued by International Islamic Liquidity Management 2 SA's (IILM 2 SA) asset-backed commercial paper (ABCP) programme as follows: USD510 million Series 250031 certificates (XS3102035998): 'F1sf' USD290 million Series 250032 certificates (XS3102037184): 'F1sf' USD225 million Series 250033 certificates (XS3102040485): 'F1sf' Transaction Summary IILM 2 SA is a Luxembourg societe anonyme incorporated in 2013 to issue short-term US dollar-denominated trust certificates with maturities of up to 364 days. The programme size is USD6 billion and the outstanding certificates total USD5.70 billion. KEY RATING DRIVERS Credit Link to Assets: The underlying assets introduce credit risk to the programme, although they are required to meet eligibility criteria at purchase, including a minimum 'A' rating by Fitch. The programme is effectively exposed to five risk presenting entities (RPEs), while the current underlying asset pool incorporates 12 sukuk. Fitch's approach to the five RPEs in this transaction is based on the Asset-Backed Commercial Paper Rating Criteria, which stipulate the application of the weakest link approach for credit and liquidity support providers. Liquidity Risk Mitigated by Structure: An early prepayment feature or external liquidity provider provides liquidity support to mitigate timing mismatches between principal collections on the assets and the repayment of the certificates. If collections from the assets are insufficient to pay transaction costs and target profit amounts of the certificates, we expect the issuer reserve account to cover any shortage. Experienced Programme Administrator: International Islamic Liquidity Management Corporation (IILM) has served as the programme administrator and investment advisor since the programme's inception in 2013. We assess IILM's asset origination, programme management, operations, administration and credit-risk management capabilities as effective and supportive of the assigned ratings. Robust Legal Structure and Transaction Documents: The issuer and the holding are public limited liability companies incorporated in Luxembourg. The programme is structured so both entities are isolated from the bankruptcy and insolvency risks of the entities involved in the programme. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade The ratings on the certificates issued from the programme are sensitive to changes in the Long-Term Issuer Default Ratings (IDRs) of the RPEs. Based on the applicable criteria, a one-notch downgrade of any RPE would not affect the ratings. A two-notch downgrade of the weakest link may result in a one-notch downgrade of the programme and certificates. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade A one-notch upgrade of the weakest link would not lead to an upgrade of the certificates as the asset eligibility criteria require at least an 'A' rating. USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10 Form ABS Due Diligence-15E was not provided to, or reviewed by, Fitch in relation to this rating action. DATA ADEQUACY The majority of the underlying assets or RPEs have ratings or credit opinions from Fitch and/or other Nationally Recognized Statistical Rating Organizations and/or European Securities and Markets Authority registered rating agencies. Fitch has relied on the practices of the relevant groups within Fitch and/or other rating agencies to assess the asset portfolio information or information on the RPEs. Overall, and together with any assumptions referred to above, Fitch's assessment of the information relied upon for the agency's rating analysis according to its applicable rating methodologies indicates that it is adequately reliable. REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING The principal sources of information used in the analysis are described in the Applicable Criteria. REPRESENTATIONS, WARRANTIES AND ENFORCEMENT MECHANISMS A description of the transaction's representations, warranties and enforcement mechanisms (RW&Es) that are disclosed in the offering document and which relate to the underlying asset pool was not prepared for this transaction. Offering Documents for this market sector typically do not include RW&Es that are available to investors and that relate to the asset pool underlying the trust. Therefore, Fitch credit reports for this market sector will not typically include descriptions of RW&Es. For further information, please see Fitch's Special Report titled 'Representations, Warranties and Enforcement Mechanisms in Global Structured Finance Transactions'. ESG Considerations Fitch does not provide ESG relevance scores for IILM 2 SA. In cases where Fitch does not provide ESG relevance scores in connection with the credit rating of a transaction, programme, instrument or issuer, Fitch will disclose any ESG factor that is a key rating driver in the key rating drivers section of the relevant rating action commentary. For more information on Fitch's ESG Relevance Scores, visit Additional information is available on PARTICIPATION STATUS The rated entity (and/or its agents) or, in the case of structured finance, one or more of the transaction parties participated in the rating process except that the following issuer(s), if any, did not participate in the rating process, or provide additional information, beyond the issuer's available public disclosure. APPLICABLE CRITERIA Asset-Backed Commercial Paper Rating Criteria (pub. 01 Mar 2022) (including rating assumption sensitivity) Structured Finance and Covered Bonds Counterparty Rating Criteria (pub. 29 Nov 2023) Structured Finance and Covered Bonds Counterparty Rating Criteria: Derivative Addendum (pub. 29 Nov 2023) Global Structured Finance Rating Criteria (pub. 19 Nov 2024) (including rating assumption sensitivity) Structured Finance and Covered Bonds Country Risk Rating Criteria (pub. 17 Jun 2025) ADDITIONAL DISCLOSURES Dodd-Frank Rating Information Disclosure Form Solicitation Status Endorsement Policy ENDORSEMENT STATUS International Islamic Liquidity Management 2 SA EU Endorsed, UK Endorsed DISCLAIMER & DISCLOSURES All Fitch Ratings (Fitch) credit ratings are subject to certain limitations and disclaimers. Please read these limitations and disclaimers by following this link: In addition, the following details Fitch's rating definitions for each rating s Read More Solicitation Status The ratings above were solicited and assigned or maintained by Fitch at the request of the rated entity/issuer or a related third party. Any exceptions follow below. Endorsement Policy Fitch's international credit ratings produced outside the EU or the UK, as the case may be, are endorsed for use by regulated entities within the EU or the UK, respectively, for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019, as the case may be. Fitch's approach to endorsement in the EU and the UK can be found on Fitch's Regulatory Affairs page on Fitch's website. The endorsement status of international credit ratings is provided within the entity summary page for each rated entity and in the transaction detail pages for structured finance transactions on the Fitch website. These disclosures are updated on a daily basis.
