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The International Islamic Liquidity Management Corporation (IILM), rated A-1 by S&P Global Ratings and F1 by Fitch, has reissued a $1.286 billion short-term sukuk across five tenors: two-weeks, two-, three-, six-, and nine-months.
The five tranches are priced at 4% for the $348 million two-week tenor, 3.95% for the $339 million two-month period, at 4% for the $350 million three-month period, at 4.10% for the $205 million six-month tranche, and 4.10% for the $44 million nine-month tenor.
According to IILM, bids reached $3 billion, with a 2.33x oversubscription.
The latest transaction marks the Kuala Lumpur-headquartered IILM’s eighth sukuk auction year-to-date with a total raise of $9.32 billion in 2026 and was conducted under the IILM’s $8.5 billion short-term Sukuk Issuance Programme.
Banks involved in the transaction include 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, Jaiz 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 develops and issue short-term shari’ah-compliant financial instruments to facilitate cross-border liquidity management for institutions. Member countries include the UAE, Kuwait, Qatar, Indonesia, Malaysia, Mauritius, Nigeria, and Türkiye, as well as the multilateral Islamic Corporation for the Development of the Private Sector.
(Writing by Bindu Rai, editing by Seban Scaria)
