Latest news with #MohamadSafriShahulHamid
Zawya
27-05-2025
- Business
- Zawya
IILM achieves milestone with new highly rated $500mln asset from the GCC
Kuala Lumpur, Malaysia – The International Islamic Liquidity Management Corporation (IILM), an international organisation that develops and issues short-term Shari'ah-compliant financial instruments, is pleased to announce that its outstanding short-term Ṣukūk portfolio has reached a new record-high of USD 5.7 billion following the successful addition of a USD 500 million highly rated Ṣukūk asset by a sovereign-owned entity in the GCC. This significant development reflects the IILM's continued commitment to providing highquality, Shari'ah-compliant liquidity management instruments for the global Islamic finance market. The increase in underlying assets enhances the organisation's capacity to issue short-term Ṣukūk to meet the growing demand from a broad base of global investors. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: 'Today's auction marks another historic and significant milestone in the IILM's growth trajectory with the inclusion of a new highly rated USD 500 million Ṣukūk asset. This addition not only bolsters our issuance capacity but also enhances the diversification of our asset pool across the GCC region. It represents a huge strategic step forward in expanding our geographical footprint as well as strengthening the credit quality and resilience of the IILM Ṣukūk programme.' 'Reaching an all-time high of USD 5.7 billion in outstanding short-term Ṣukūk is a testament to the robustness of our unique business model and continued the trust placed in the IILM by our investors and network of highly rated asset obligors. This milestone underscores the growing demand for reliable, Shari'ah-compliant liquidity instruments and highlights the IILM's evolving role as a key player in the global Islamic finance ecosystem.' 'We are pleased to collaborate with an expanding network of globally respected institutions as we continue to support the development of robust, Shari'ah-compliant liquidity management tools for the Islamic financial market. This latest development reaffirms the IILM's commitment to delivering transparent, consistent, creditworthy, and liquidity solutions to Islamic financial institutions worldwide.' With the inclusion of the new asset today, the IILM successfully concluded the reissuance and issuance of an aggregate USD 1.28 billion across three different tenors of one, three, and six-month respectively. The three series were priced competitively at: i) 4.55% for USD 540 million for 1-month tenor; ii) 4.55% for USD 400 million for 3-month tenor; and, iii) 4.55% for USD 340 million for 6-month tenor. This marks the IILM's ninth auction year-to-date and the second for the month of May. Year-to-date, cumulative issuances have reached USD 9.49 billion across 27 Ṣukūk series of varying tenors. The auction attracted strong demand from the IILM's network of Primary Dealers and global investors, resulting in a healthy orderbook of USD 2.58 billion and a robust average bid-to-cover ratio of 202%, reflecting continued confidence in the IILM's short-term Ṣukūk programme. 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. Media Enquiries: The International Islamic Liquidity Management Corporation (IILM)
Zawya
14-05-2025
- Business
- Zawya
IILM reaches historic milestone with USD 1.24bln four-tenor Sukuk
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 1.24 billion short-term Ṣukūk across four different tenors of one, three, six, and twelve-month respectively. The four series were priced competitively at: 4.65% for USD 485 million for 1-month tenor; 4.40% for USD 310 million for 3-month tenor; 4.42% for USD 285 million for 6-month tenor; and, 4.40% for USD 160 million for 12-month tenor The successful completion of the short-term Ṣukūk transaction today marks the IILM's eighth auction year-to-date, with cumulative issuances totalling USD 8.21 billion across 24 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 2.65 billion, representing a strong and sustained average bid-to-cover ratio of 214%. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: '"Today's transaction marks yet another pivotal and historic milestone for the IILM, as we successfully offered four different tenors – one, three, six, and twelve-month – for the first time in a single auction. This strategic move underscores the IILM's firm commitment to providing greater flexibility and depth in high-quality Shari'ah-compliant short-term liquidity management space, in line with the growing and evolving needs of Islamic financial institutions globally." The auction saw impressive demand across all the four tenors, despite the ongoing volatility in global rate markets and rising short-term funding costs amid tightening liquidity conditions. Investor appetite remained resilient, bolstered by a renewed risk-on tone, following a joint US-China announcement on reciprocal tariff reductions. The positive market sentiment exceeded expectations and provided a constructive backdrop for the issuance. As market conditions continue to stabilise, the IILM remains a reliable and trusted provider of high-quality Islamic liquidity management tools for the global Islamic finance community." 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. Media Enquiries: The International Islamic Liquidity Management Corporation (IILM) T: +60(3) 2170 5000 F: +60(3) 2170 5111 E: corpcomm@ info@ Website: Please follow us on social media for up-to-date information on the IILM: Twitter : Linked in :
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 :
