The International Islamic Liquidity Management Corporation (IILM) has issued a new batch of short-term sukuk totaling $1.3 billion. The issuance is divided into four tranches: $460 million at 3.81% maturing in one month, $635 million at 3.84% maturing in three months, $155 million at 3.82% maturing in six months, and $50 million at 3.45% maturing in twelve months.
The auction attracted $2.915 billion in bids, more than double the amount offered, highlighting strong investor demand for short-term Shariah-compliant instruments.
Distribution and programme details
The sukuk are being distributed through a consortium of banks, including Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan 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.
This issuance forms part of IILM’s broader $8.5 billion sukuk programme, aimed at providing liquidity management solutions while supporting the development of the global Islamic finance market.
