The Issuance Programme

On 6 April 2013, the IILM announced the launch of its inaugural short-term Sukūk Programme, which was rated A-1 by Standard and Poor’s Rating Services.

The IILM Sukūk Programme marks the first of many things, not only for Islamic finance but also in the conventional space as well:

  1. It is the first Shari’ah-compliant, short-term, highly rated, tradable, US Dollar-denominated instrument in the market;
  2. It is the first money market instrument backed by sovereign assets in the form of Sukūk; and
  3. It has the first multi-jurisdictional primary dealer network that facilitates distribution to investors worldwide.