Kuala Lumpur, Malaysia – The International Islamic Liquidity Management Corporation (IILM), the world’s leading issuer of Shari’ah-compliant short-term liquidity management instruments, is pleased to announce that its outstanding short-term Ṣukūk portfolio has reached a new record high of USD 6.65 billion.

This milestone builds on the successful issuance and reissuance of USD 965 million in short-term Ṣukūk across one, three, six and twelve-month tenors in the IILM’s second auction for January, lifting our month-to-date issuance to USD 2.2 billion — the second-largest monthly total in the IILM’s history.

The four series were priced competitively at:

  1. 3.90% for USD 385 million for 1-month tenor;
  2. 3.92% for USD 380 million for 3-month tenor;
  3. 3.95% for USD 150 million for 6-month tenor; and,
  4. 3.90% for USD 50 million for 12-month tenor.

The auction attracted strong and broad-based demand from the IILM’s network of Primary Dealers and a wide range of institutional investors across multiple jurisdictions, generating total bids of USD 2.173 billion and an average bid-to-cover ratio of 2.25 times — reflecting sustained confidence in the IILM’s high-quality short-term Islamic liquidity instruments.

Commenting on the milestone issuance, Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: “This issuance reflects the continued momentum in expanding and diversifying the IILM’s asset base at the start of 2026. It also marks the successful onboarding of a new highly rated short-term asset, bringing our outstanding short-term Ṣukūk to a new record high of USD 6.65 billion.”

“The strong and broad-based demand observed across all tenors reflects investors’ continued preference for high-quality, short-dated Islamic instruments amid ongoing macroeconomic cross-currents, policy uncertainty, and shifting rate expectations. This outcome reaffirms the IILM’s role in supporting effective Islamic liquidity management by providing the market with transparency, certainty, and regular, predictable issuances”.

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 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

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