Latest news with #Safri
Borneo Post
22-04-2025
- Science
- Borneo Post
Contractor awards Unimas grant to conduct soil mapping study on SSLR2
Safri (third left) and Siti Noor Linda show the grant documents during a group photo with Unimas and MAUJV officials. KOTA SAMARAHAN (April 22): Maltimur Aktif Unggul JV (MAUJV), the design-and-build contractor for the Sarawak Sabah Link Road Phase 2 (SSLR2), has awarded Universiti Malaysia Sarawak (Unimas) an industry grant worth RM983,232. The grant is for Unimas to conduct a comprehensive soil mapping study on the 335km project. The collaboration aims to investigate seismic and geohazard risks along the SSLR2 alignment through an in-depth study carried out by experts from Unimas' Faculty of Engineering and Faculty of Cognitive Sciences and Human Development. 'With the SSLR2 traversing challenging highland terrain, the study is expected to play a vital role in ensuring the project's resilience and safety while also contributing to community wellbeing. 'The research will examine technical and safety concerns in addition to socio-economic and sustainability impacts,' said MAUJV in a press statement today. It also said the partnership marked a strategic bridge between industry and academia. 'For MAUJV, this ensures access to scientific data that will enhance design and construction quality. 'As for Unimas, it provides an opportunity to elevate research capabilities and offer real-world learning experiences for students and academics involved in a large-scale infrastructure project,' said the statement. The grant handing-over was held at Unimas earlier today, with MAUJV chairman Datu Safri Zainuddin and Unimas deputy vice-chancellor (research and innovation) Prof Dr Siti Noor Linda Taib representing their respective institutions. Maltimur Aktif Unggul JV sarawak sabah link road Unimas
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
18-02-2025
- Business
- Zawya
The IILM's $710mln short-term Sukūk oversubscribed by 2.15 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 and issuance of an aggregate USD 710 million short-term Ṣukūk across two different tenors of one and three-month respectively. The two series were priced competitively at: 4.40% for USD 310 million for 1-month tenor; and, 4.45% for USD 400 million for 3-month tenor. The short-term Ṣukūk transaction today marks the second auction for the month of February and saw a competitive tender amongst the Primary Dealers and Investors globally, with a strong orderbook of USD 1.53 billion, representing an impressive average bid-to-cover ratio 215%. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: 'with today's auction bringing the total for the month of February to a substantial USD 1.76 billion, we are pleased to see continued strong demand for the IILM's short-term Sukūk. The oversubscription rate reflects deep investor confidence in the IILM's ability to consistently deliver high-quality, Shari'ah-compliant solutions in dynamic market conditions.' The second auction of February witnessed an increase in supply of the IILM short-term Sukūk by an additional USD 50 million, which further demonstrates the IILM's dedication to meeting growing demand for high-quality Islamic papers. This demand has been fueled by the mildly hawkish tone of the Federal Reserve recently, which has led investors to seek safe and reliable investment opportunities. Additionally, the onboarding of two new Primary Dealers, Golden Global Investment Bank and Kuwait International Bank, brings the total number of Primary Dealers to 14. This expansion is a strategic move aimed at broadening the IILM's market footprint, strengthening its service to investors, and advancing the growth of the Islamic finance industry as a whole. 'We are encouraged by the competitive pricing and diverse participation in today's auction, underscoring the IILM's solid partnerships with an expanding network of Primary Dealers and investors worldwide. As we continue to innovate and enhance our offerings, we remain firmly committed to advancing resilient liquidity solutions for the global Islamic finance industry and are confident of ensuring a robust and meaningful supply of high-quality short-term Ṣukūk for the benefit of the Islamic financial institutions globally', 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 4.19 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) E: corpcomm@ info@ Website: Please follow us on social media for up-to-date information on the IILM: Twitter : Linked in :
Zawya
13-02-2025
- Business
- Zawya
Golden Global Investment Bank joins the IILM's global network of Primary Dealers
Istanbul, Türkiye – The International Islamic Liquidity Management Corporation (IILM) proudly welcomes Türkiye's Golden Global Investment Bank as the latest banking institution to join the IILM's distinguished global network of Primary Dealers, to distribute the IILM's short-term Sukūk to qualified investors in Türkiye and globally. Golden Global Investment Bank, Türkiye's first Shari'ah-compliant investment bank established in 2019, became the IILM's 13th global Primary Dealer. During the ceremony between the IILM and Golden Global Investment Bank in Istanbul, Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: "We are extremely delighted and honoured to have and welcome Golden Global Investment Bank to the IILM family. This partnership is part of our commitment to supporting effective liquidity management in global Islamic financial markets, and Türkiye occupies a unique position as a bridge between Europe and Asia. The country's dynamic financial market and robust regulatory framework have created fertile ground for the growth of Islamic finance, and with Golden Global Investment Bank being part of the IILM's global network of Primary Dealers, this will certainly solidify the bank's presence in the global Islamic financial markets.' 'Being the latest Primary Dealer for the IILM's USD 6 billion Sukūk programme will unlock new opportunities for Turkish investors and institutions, enabling them to access high quality Islamic cross-border liquidity solutions. I am confident that with Golden Global Investment Bank's innovative vision, they will play an integral role in broadening the reach of the IILM's highly rated Islamic short-term papers to a wide range of investors, particularly in Türkiye and the surrounding regions. I look forward to this partnership that will be of tremendous value in the years to come,' Safri added. In his remarks during the ceremony, Yavuz Yeter, General Manager of Golden Global Investment Bank, emphasised the bank's commitment to providing innovative and effective solutions compliant with Islamic finance principles to its expanding client portfolio. "We are extremely proud to become a Primary Dealer for the IILM. This partnership will allow our bank to play a significant role in global Islamic financial markets, providing our clients with broader and more international opportunities. Golden Global Investment Bank continues to enhance its international collaborations and effectiveness based on a solid strategy. Our successful issuances of TRY, USD, and EUR Sukuk domestically and internationally throughout 2024 are a testament to this strategy.' 'In addition to our own funding needs, our bank will, in the coming period, address a significant need in the sector by facilitating domestic and international Sukūk issuances for our corporate clients. We aim to continue expanding our innovative Islamic banking practices, particularly in foreign trade and treasury products. Through this robust collaboration with the IILM, we will strengthen our presence in global Islamic financial markets and broaden the range of products we offer to our investors." The IILM's short-term Sukῡk is currently distributed by a diversified and growing network of 12 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, 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 Golden Global Investment Bank Golden Global Investment Bank stands out as Türkiye's first investment bank dedicated to Islamic banking principles. Officially commencing operations in June 2020, Golden Global Investment Bank adopted a new generation banking approach, prioritising corporate banking and tailor-made financial solutions. The bank offers its clients a range of services, including investment banking (capital markets), corporate banking (investment and working capital loans, cash management, and international trade finance), and treasury products and services. Golden Global Yatırım Bankası continued its strong growth in assets during the financial period of January 1 - September 30, 2024. Compared to year-end 2023, total assets has increased by 23% to TL 15.1 billion and equity of the bank has increased by 41% to TL 1.8 billion. As of January 1, 2024; JCR Eurasia Rating has affirmed Golden Global Investment Bank's creditworthiness by upgrading the Long-Term National Issuer Credit Rating from BBB- (tr) to A- (tr) within the high investment level category.
