About Us

The International Islamic Liquidity Management Corporation (the IILM) is an international organisation established by central banks, monetary authorities and multilateral organisations to create and issue Shari’ah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

 

Established on 25 October 2010, the IILM aims to enhance cross-border investment flows, international linkages and financial stability by creating more liquid Shari’ah-compliant financial markets for institutions offering Islamic financial services.

 

On 26 August 2013, the IILM achieved a significant milestone by issuing the first US Dollar-denominated, highly rated, short-term, tradable, Shari’ah-compliant Sukūk. The IILM inaugural Sukūk of USD490 million, rated A-1 by Standard & Poor’s Rating Services, were issued at a tenor of 3 months and were fully subscribed.

 

The landmark inaugural issuance further represent the first money-market instrument backed by sovereign assets in the form of Sukūk. The IILM Sukūk are expected to complement the intermediate and long-term Sukūk currently available in the market.

 

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 current member shareholders comprise the central banks of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the monetary agency, Islamic Corporation for the Development of the Private Sector.