The International Islamic Liquidity Management Corporation (IILM) has completed the reissuance of USD 1.286 billion in short-term Ṣukūk, maintaining its position as the sole active issuer in the global USD-denominated Ṣukūk market. The move ensures continued access to high-quality Islamic liquidity instruments, particularly at a time of heightened market volatility.
Based in Kuala Lumpur, Malaysia, IILM is a leading global issuer of Shari’ah-compliant short-term financial instruments that support liquidity management for Islamic financial institutions. The latest issuance spans five tenors—two-week, two-month, three-month, six-month, and nine-month—offering flexibility to meet varying investor needs.
The five series were priced competitively, with returns of 4.00% for USD 348 million (two-week), 3.95% for USD 339 million (two-month), 4.00% for USD 350 million (three-month), 4.10% for USD 205 million (six-month), and 4.10% for USD 44 million (nine-month). The auction attracted strong global demand, with total bids reaching USD 3 billion, representing an oversubscription of 2.33 times. This reflects sustained investor confidence in IILM’s high-quality short-term Islamic instruments despite ongoing market uncertainty.
This issuance marks IILM’s eighth Ṣukūk auction in 2026, bringing total year-to-date issuances to USD 9.32 billion across 37 series of varying maturities. All issuances fall under IILM’s USD 8.5 billion short-term Ṣukūk Issuance Programme, which is rated “A-1” by S&P Global Ratings and “F1” by Fitch Ratings.
IILM distributes its short-term Ṣukūk through a diversified network of 16 primary dealers worldwide, including leading Islamic and conventional financial institutions such as Abu Dhabi Islamic Bank, Kuwait Finance House, Qatar Islamic Bank, and Standard Chartered Bank. This wide distribution network supports strong global participation and accessibility.
As a regular issuer, IILM continues to play a key role in providing reliable short-term liquidity solutions for institutions offering Islamic financial services. The organization has reaffirmed its commitment to ongoing monthly issuances in line with its issuance calendar, ensuring consistent support for the evolving needs of the global Islamic finance market.