​​​​​​Kuala Lumpur, Malaysia – The International Islamic Liquidity Management Corporation (“IILM”) today surpassed another major milestone as its total outstanding short-term Ṣukūk assets climbed to a record USD 7.055 billion, following a USD 975 million issuance and reissuance exercise. The achievement reflects strong and sustained market appetite for high-quality Islamic liquidity instruments despite persistent global market uncertainty and increasingly cautious investor sentiment.

The successful issuance and reissuance were made across five different tenors of one-, two-, three-, six-, and nine-month, and priced competitively as follows:

  1. 3.90% for USD 183 million (1-month);
  2. 4.15% for USD 154 million (2-month);
  3. 4.00% for USD 408 million (3-month);
  4. 4.10% for USD 200 million (6-month); and,
  5. 4.28% for USD 30 million (9-month).

Despite a backdrop of heightened geopolitical tensions and shifting global monetary expectations, the auction attracted robust global demand, with total bids reaching USD 2.435 billion — representing a strong 2.5x oversubscription. This underscores the continued appeal of IILM’s highly rated, USD-denominated short-term Ṣukūk as a resilient and reliable liquidity management instrument in times of uncertainty.

Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: “As the only consistent global issuer of USD short-term Ṣukūk, the successful completion of today’s USD 975 million auction increased IILM’s outstanding Ṣukūk portfolio to a record USD 7.055 billion, and marks another important milestone for the IILM as it reflects sustained investor confidence in the strength, consistency, and strategic importance of our programme.”

“Heightened geopolitical tensions, rising oil-driven inflation concerns, and continued uncertainty over the U.S. interest rate outlook have led to significant market volatility and a sharp widening in issuance spreads across global funding markets. Despite these challenging conditions, IILM continued to attract strong investor participation, underscoring the resilience of our programme and the critical role of high-quality short-term Islamic liquidity instruments during periods of heightened uncertainty,” Safri added.

Today’s transaction marks IILM’s tenth Ṣukūk auction year-to-date, bringing total issuances in 2026 to USD 11.77 billion across 48 Ṣukūk series of varying maturities. All issuances were conducted under the IILM’s USD 8.5 billion short-term Ṣukūk Issuance Programme, rated “A-1” by S&P Global Ratings and “F1” by Fitch Ratings.

The IILM’s short-term Sukῡk is distributed by a diversified and growing network of 16 primary dealers globally, namely 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 is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services. The IILM will continue to reissue its short-term liquidity instruments monthly as scheduled in its issuance calendar.

About the IILM

The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shari’ah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services (IIFS).

The current members of the IILM Governing Board are the central banks and monetary agencies of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector.

Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations.

The IILM is hosted by Malaysia and headquartered in Kuala Lumpur.

Media Enquiries:

The International Islamic Liquidity Management Corporation (IILM)

E: corpcomm@iilm.com; info@iilm.com
Website: http://www.iilm.com

Please follow us on social media for up-to-date information on the IILM:

Twitter : https://twitter.com/theiilm
Linked in : https://www.linkedin.com/company/theiilm