Kuala Lumpur, Malaysia : The International Islamic Liquidity Management Corporation (IILM), the world’s leading issuer of Shari’ah-compliant short-term liquidity management instruments, has successfully completed its first auction for 2026 with a reissuance of an aggregate USD 1.3 billion short-term Ṣukūk across four different tenors of one, three, six, and twelve-month respectively.

The four series were priced competitively at:

  1. 3.81% for USD 460 million for 1-month tenor;
  2. 3.84% for USD 635 million for 3-month tenor;
  3. 3.82% for USD 155 million for 6-month tenor; and,
  4. 3.45% for USD 50 million for 12-month tenor.

The auction attracted strong and broad-based demand from the IILM’s network of Primary Dealers as well as a wide range of institutional investors across multiple jurisdictions, registering total bids of USD 2.915 billion and an average bid-to-cover ratio of 2.24 times — reflecting sustained confidence in the IILM’s high-quality short-term Islamic liquidity instruments.

Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: “We are pleased to commence 2026 with a successful auction, building on the strong momentum achieved during a record-breaking year in 2025. The continued robust participation across all tenors reflects sustained market confidence in the IILM’s short-term Ṣukūk as trusted, high-quality liquidity management instruments.”

Despite ongoing volatility in global financial markets and elevated yield conditions, today’s auction achieved competitive profit rates and attracted strong demand from a diversified investor base. The scale and depth of participation reaffirm the IILM’s role as a reliable and responsive issuer, committed to providing regular and well-structured short-term Ṣukūk that meet the evolving liquidity needs of Islamic financial institutions worldwide as we enter the new year.”

The successful execution of the first auction in 2026 underscores the IILM’s continued relevance in supporting the global Islamic financial system by supplying dependable, cross-border, Shari’ah-compliant liquidity tools, while reinforcing market discipline, transparency and confidence.

The issuance forms part of the IILM’s “A-1” (S&P) and “F1” (Fitch Ratings) rated USD 8.5 billion short-term Ṣukūk issuance programme. The total amount of IILM Ṣukūk outstanding stands at USD 6.4 billion.

The IILM’s short-term Sukῡk is distributed by a diversified and growing network of 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, 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)

T: +60(3) 2170 5000

F: +60(3) 2170 5111

E: corpcomm@iilm.com; info@iilm.com

Website: http://www.iilm.com