IILM to Issue $860m 3 month Sukuk

The Kuala Lumpur based International Islamic Liquidity Management (IILM) announced it intends to issue an $860m 3 month sukuk on 16 April 2015.

The IILM is an international institution established by central banks, monetary agencies and multilateral organisations to introduce and facilitate effective cross-border Shari’ah-compliant liquidity management.

The IILM seeks to facilitate cross-border liquidity management among institutions offering Islamic financial services by making available a variety of Shari’ah-compliant instruments, on commercial terms, to suit the varying liquidity needs of these institutions.

IILM sells its Sukuk through its primary dealers, who consist of: Abu Dhabi Islamic Bank, AlBaraka Turk, CIMB Islamic Bank Bhd, Luxembourg’s KBL Private Bankers, Kuwait Finance House, Maybank Islamic Bhd, National Bank of Abu Dhabi, Qatar National Bank, Standard Chartered Bank and Barwa Bank.