Kuala Lumpur, Malaysia – The International Islamic Liquidity Management Corporation (IILM), a leading global issuer of Shari’ah-compliant short-term liquidity instruments, has successfully completed a record-breaking issuance and reissuance of USD 1.495 billion in short-term Ṣukūk — the largest single auction since inception.

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

  1. 4.15% for USD 247 million (2-week);
  2. 3.90% for USD 296 million (1-month);
  3. 4.00% for USD 538 million (3-month);
  4. 4.00% for USD 293 million (6-month); and,
  5. 4.10% for USD 121 million (9-month).

The auction attracted robust global demand, with total bids reaching USD 2.925 billion — representing a strong 1.96 times subscribed. 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: “Today’s issuance marks another important milestone for the IILM, with cumulative issuances in 2026 surpassing USD 13 billion and our outstanding Ṣukūk portfolio reaching a record USD 7.1 billion. These achievements reflect the strong and sustained demand for IILM Ṣukūk and reaffirm the confidence that investors, member countries and primary dealers continue to place in the IILM’s unique value proposition.

In an environment characterised by heightened uncertainty, shifting market expectations and evolving liquidity conditions, the IILM remains steadfast in its mandate to provide high-quality, short-term Sharīʿah-compliant liquidity management solutions. The continued growth of our issuance programme underscores the critical role of IILM Ṣukūk in supporting the liquidity and balance sheet management needs of Islamic financial institutions worldwide.

As the global Islamic financial industry continues to expand, the IILM remains committed to ensuring a regular and reliable supply of highly rated short-term Ṣukūk, strengthening market resilience, enhancing cross-border liquidity flows, and contributing to the continued development and stability of the international Islamic financial system.”

Today’s transaction marks IILM’s eleventh Ṣukūk auction year-to-date, bringing total issuances in 2026 to USD 13.266 billion across 53 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 remains committed to providing regular issuances of high-quality short-term Ṣukūk across multiple tenors to support the liquidity management requirements of Islamic financial institutions globally. Consistent with its published issuance calendar, the IILM will continue to conduct its scheduled auctions and reissuances to meet growing market demand for Shari'ah-compliant liquidity solutions.

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:
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Website: http://www.iilm.com

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