The Features of the IILM Sukūk

There are several important features of the IILM Sukūk that are intended to assist the establishment of a liquid, cross-border market for IIFS. The IILM Sukūk:

  1. are tradable Shari’ah-compliant US Dollar-denominated short-term financial instruments issued at maturities of up to one year;
  2. are money-market instruments backed by sovereign assets;
  3. are distributed and tradable globally via a multi-jurisdictional primary dealer network; and
  4. have strong global support as they represent a unique collaboration between several central banks and a multilateral development organisation with the aim of enhancing the financial stability and the efficient functioning of Islamic financial markets.