KUALA LUMPUR, Oct 16 (Bernama) -- The International Islamic Liquidity Management Corporation (IILM) today announced the upsizing of its sukuk programme from US$6 billion to US$8.5 billion (US$1=RM4.22).
IILM said in a statement that the milestone reinforced its role as the primary provider of short-term Islamic High-Quality Liquid Assets (HQLA) that support cross-border liquidity needs of Islamic financial institutions worldwide.
Its chief executive officer, Mohamad Safri Shahul Hamid, said the upsized value represents IILM’s continued growth trajectory and commitment to providing a robust platform for liquidity management in the Islamic financial system.
“This latest upsizing of our sukuk programme, following last year’s increase from US$4 billion to US$6 billion, reflects IILM’s growth momentum and its pivotal role in advancing global Islamic liquidity management.
“By deepening and diversifying our asset base, we are better positioned to support the evolving needs of Islamic financial institutions worldwide, as well as strengthen the resilience of the Islamic financial ecosystem,” he said.
Since its inaugural issuance in 2013, IILM has issued over US$130 billion across more than 300 short-term sukuk series, ranging from one-month to 12-month tenors.
The IILM’s instruments are rated “A-1” by S&P Global Ratings and “F1” by Fitch Ratings, respectively.
-- BERNAMA
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