Latest news with #InternationalIslamicLiquidityManagementCorporation
Zawya
22-04-2025
- Business
- Zawya
IILM onboards new asset worth 510 million, hitting an all-time high of USD5.2bln in total outstanding asset
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 and issuance of an aggregate USD 900 million short-term Ṣukūk across three different tenors of one, three, and six-month respectively. The three series were priced competitively at: 4.25% for USD 430 million for 1-month tenor; 4.52% for USD 270 million for 3-month tenor; and, 4.60% for USD 200 million for 6-month tenor. The second auction for the month of April comes on the back of the IILM securing a new highly rated (Ṣukūk) asset worth USD 510 million, bringing the total outstanding amount of IILM Ṣukūk in the market to an all-time high of USD 5.2 billion (end-December 2024: USD 4.14 billion; end-December 2023: USD 3.51 billion). This clearly reinforces IILM's core mandate and firm status as one the most prolific and sought after issuers and providers of high-quality Islamic liquidity management solutions globally. The successful completion of the short-term Ṣukūk transaction today marks the IILM's seventh auction year-to-date, with cumulative issuances totalling USD 6.97 billion across 20 Ṣukūk series of varying tenors. The auction saw a competitive tender amongst the Primary Dealers and Investors globally, with a very healthy orderbook of USD 2.41 billion, representing a strong and sustained average bid-to-cover ratio of 268%. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: 'The IILM continues to break new grounds following yet another highly successful auction today, which included a fresh issuance of USD510 million to fund a highly rated obligor via a private placement Ṣukūk. As a result, our total outstanding asset has now crossed the USD 5 billion mark for the very first time in IILM's history, with a total outstanding asset of USD 5.2 billon. The onboarding of the new high-quality, Shari'ah-compliant Ṣukūk asset into our pool marks a significant enhancement to the depth and diversification of our underlying asset portfolio. This strategic inclusion strengthens the structural integrity and credit profile of the IILM Ṣukūk, reinforcing its global appeal as a safe heaven, low-risk Islamic instrument. The strong interest and oversubscription seen in today's issuance reflect continued investor confidence in the IILM's short-term Ṣukūk programme as a reliable and trusted Islamic liquidity management tool. With USD 1.92 billion issued across two auctions in April alone, we are encouraged by the sustained demand for our papers across all tenors. As we continue to navigate a dynamic and uncertain global financial environment, the IILM remains committed to offering Shari'ah-compliant short-term instruments that meet the evolving needs of our growing investor base, while contributing to the development of robust Islamic money markets globally.' 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, 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.
Zawya
08-04-2025
- Business
- Zawya
The IILM reissues $1.02bln short-term Sukūk
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 1.02 billion short-term Ṣukūk across three different tenors of one, three, and six-month respectively. The three series were priced competitively at: 4.60% for USD 350 million for 1-month tenor; 4.50% for USD 450 million for 3-month tenor; and, 4.40% for USD 220 million for 6-month tenor. The short-term Ṣukūk transaction today marks the IILM's sixth auction year-to-date, with cumulative issuances totalling USD 6.07 billion across 17 Ṣukūk series of varying tenors. The auction saw a competitive tender amongst the Primary Dealers and Investors globally, with a strong orderbook of USD 2.2 billion, representing an impressive average bid-to-cover ratio 216%. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: 'Today's successful reissuance comes against the backdrop of a global market rout, marked by a sharp sell-off that were triggered by the latest wave of US tariff hikes and growing protectionist measures that have shaken investor confidence worldwide. The strong demand from a diverse base of global investors underscores continued confidence in the IILM's short-term Ṣukūk as a safe haven, Shari'ah-compliant instrument for effective liquidity management during one of the most challenging periods in recent years. The IILM remain committed to supporting our investor community — particularly Islamic financial institutions — through the regular supply of high-quality securities that meet the evolving needs of the Islamic financial markets globally. 'Notably, the significant demand for IILM's 3-month and 6-month Ṣukūk reflects market expectations of potential monetary easing ahead. This suggests that investors are positioning for a more accommodative global monetary policy environment, driven by central banks' efforts to stabilise growth amid persistent uncertainty,' Safri added. 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 total amount of IILM Ṣukūk outstanding currently stands at USD 4.69 billion (end-December 2024: USD4.14 billion). 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, 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. -Ends- 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
26-03-2025
- Business
- Zawya
The IILM secures a new high-quality asset worth $500mln
Kuala Lumpur, Malaysia – The International Islamic Liquidity Management Corporation (IILM) has secured a new high-quality asset worth USD 500 million as it expands its pool of assets to meet the growing demand for the IILM's short-term Islamic papers. With the inclusion of a new underlying asset in the IILM's portfolio, the IILM successfully completed the issuance and reissuance of an aggregate USD 810 million short-term Ṣukūk across three different tenors of one, three, and twelve-month respectively. The three series were priced competitively at: 4.50% for USD 390 million for 1-month tenor; 4.52% for USD 275 million for 3-month tenor; and, 4.45% for USD 145 million for 12-month tenor. The short-term Ṣukūk transaction today marks the IILM's fifth auction year-to-date, with cumulative issuances totalling USD 5.05 billion across 14 Ṣukūk series of varying tenors. The auction saw a competitive tender amongst the Primary Dealers and Investors globally, with a strong orderbook of USD 1.74 billion, representing an impressive average bid-to-cover ratio 215%. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: 'We are pleased to announce an inclusion of a USD 500 million high-quality asset into our portfolio, bringing the total IILM outstanding Ṣukūk to an all-time high of USD 4.69 billion. The inclusion of this new asset not only strengthens our liquidity offerings but also reaffirms the role of IILM as a plausible provider of long-term funding solutions for eligible issuers and obligors. We are in a very exciting phase of our growth and expecting to see a steady increase in our outstanding Ṣukūk asset pool in the coming months with at least a couple more new assets to be onboarded by the end of first half of the year.' 'Today's successful auction of USD 810 million is well supported by a robust orderbook and competitive pricing, which clearly reflects the appeal of IILM's short-term Ṣukūk as a safe haven Islamic instrument. The remarkable bid-to-cover ratio of 215% and cumulative year-to-date issuances surpassing USD 5 billion highlight the IILM's pivotal role in global Islamic finance. As market volatility persists, institutional investors continue to prioritise IILM Ṣukūk for its resilience, liquidity, and alignment with international regulatory standards. We remain dedicated to advancing our USD 6 billion issuance program, delivering innovative tools that empower financial institutions to navigate evolving liquidity needs while upholding the highest standards of ethical finance.' 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 total amount of IILM Ṣukūk outstanding currently stands at USD 4.69 billion. 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, 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. -Ends- 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
12-03-2025
- Business
- Zawya
The IILM reissues USD 1.21bln short-term Sukūk
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 1.21 billion short-term Ṣukūk across three different tenors of one, three, and six-month respectively. The three series were priced competitively at: 4.40% for USD 350 million for 1-month tenor; 4.40% for USD 550 million for 3-month tenor; and, 4.35% for USD 310 million for 6-month tenor. The short-term Ṣukūk transaction today marks the IILM's fourth auction year-to-date, with cumulative issuances totalling USD 4.24 billion across 11 Ṣukūk series of varying tenors. The auction saw a competitive tender amongst the Primary Dealers and Investors globally, with a strong orderbook of USD 2.813 billion, representing an impressive average bid-to-cover ratio 232.5%. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: "Against a backdrop of ongoing macroeconomic volatility, amplified by global trade tensions and evolving expectations surrounding the Federal Reserve's interest rates, IILM's USD 1.21 billion Sukūk issuance reaffirms our commitment to supporting stability in the Islamic financial markets. The strong demand—reflected in a solid average bid-to-cover ratio of 232.5% — underscores the continued and growing investors' confidence in the IILM's 'A-1' and 'F1' rated short-term instruments. IILM's Sukūk serves as reliable and secure liquidity management tools, positioning it as a safe haven for investors seeking stability amidst uncertainty, especially during these turbulent times. "Amidst a global market environment marked by the sell-off of risky assets, institutions are increasingly prioritising flexible short-term liquidity solutions and high-quality assets. IILM remains committed to consistently issuing and offering an increased volume of Sukūk, at least once a month to meet the growing needs of Islamic investors in particular, backed by the prolific group of global Primary Dealers. With a proven track record in navigating market-averse conditions, our regular issuances, supported by a strong global network, reinforces the IILM's dedication to providing essential liquidity management tools while ensuring a reliable distribution framework that serves both investors and the broader Islamic finance ecosystem." 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 total amount of IILM Ṣukūk outstanding currently stands at USD 4.19 billion. 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, 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) T: +60(3) 2170 5000 F: +60(3) 2170 5111 E: corpcomm@ info@ Website:
Zawya
20-02-2025
- Business
- Zawya
The IILM onboards Kuwait International Bank as its latest Primary Dealer from the GCC region
Kuwait – The International Islamic Liquidity Management Corporation (IILM) is pleased to welcome Kuwait International Bank (KIB) as the latest banking institution from the GCC region to become the IILM's Primary Dealer that will distribute the IILM's short-term Sukūk to qualified investors in Kuwait and globally. The inclusion of KIB in the IILM's esteemed global network of Primary Dealers highlights the growing significance of the IILM's short-term Sukūk as an innovative and effective Shari'ah-compliant liquidity management solution. It also reflects the increasing demand among global investors for high-quality, low-risk, and secure Islamic investment instruments. The signing ceremony took place at KIB's headquarters in Kuwait, in the presence of the IILM's Chief Executive Officer, Mohamad Safri Shahul Hamid, and KIB's General Manager of Treasury, Mohammed Al-Duwailah. Mohamad Safri Shahul Hamid said: 'We are delighted to welcome KIB to the IILM's global network of esteemed Primary Dealers. Kuwait has long been a key player in the Islamic finance industry, with its well-established banking sector and strong regulatory support for Shari'ah-compliant financial instruments. As a new Primary Dealer, KIB's participation reinforces the increasing demand for high-quality short-term Sukūk in Kuwait and the region, underscoring the vital role that the Kuwaiti financial institutions have been playing in deepening the Islamic liquidity management solutions.' 'As Kuwait's Islamic banking sector continues to grow and evolve, KIB's participation in the IILM's highly rated short-term Sukūk programme will open new frontiers and enhance liquidity options for the Islamic market participants locally, regionally, and globally. We look forward to an enduring partnership with KIB, in strengthening cross-border liquidity management and advancing the Islamic financial ecosystem globally,' Safri added. Mohammed Al-Duwailah, said: 'It is an honour to be part of the IILM's global network of esteemed Primary Dealers whose efforts and commitment continue to develop the Islamic banking sector and add to its regional and global competitiveness. As a Primary Dealer, we are delighted to offer to domestic and regional banks, the leading high-quality, low-risk short-term IILM Sukūk, enhancing our role in meeting the liquidity requirements of institutions that provide Islamic financial services.' Al-Duwailah also added: 'With our new role as a Primary Dealer, KIB is presented with a valuable opportunity to not only promote Islamic financial instruments, such as the competitive IILM short-term Sukūk, but also to further strengthen the stability and growth of the Islamic finance ecosystem. Alongside other Primary Dealers worldwide, we are excited to embark on this new chapter of regional and global exposure as we pursue shared success for KIB and IILM.' In committing to its new responsibilities as a Primary Dealer of the IILM, KIB joins a cohort of the finest global Islamic banks in distributing the IILM's short-term Sukῡk, including Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Kuwait Finance House, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank. The IILM's USD 6 billion short-term Ṣukūk programme is rated 'A-1' by S&P Global and 'F1' by Fitch Ratings, and the total amount of IILM Ṣukūk outstanding currently stands at USD 4.14 billion. 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 : About Kuwait International Bank Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari'ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: 'Bank for Life'. Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities. Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.
