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IILM Achieves Record US$7.4 Bln Outstanding Sukuk Portfolio

KUALA LUMPUR, Aug 4 (Bernama) -- The International Islamic Liquidity Management Corporation (IILM) has achieved a new record outstanding sukuk portfolio of US$7.4 billion following the issuance and reissuance of US$1.192 billion of short-term sukuk today.

In a statement today, the issuer of shariah-compliant short-term liquidity instruments said this marks the third consecutive rise in IILM’s outstanding sukuk portfolio over the past three auctions, a clear signal of sustained global demand for its highly rated instruments.

The issuance and reissuance comprised five tenors, which are 3.85 per cent for US$250 million for two weeks; 3.90 per cent for US$330 million for one month; 4.00 per cent for US$537 million for three months; 4.04 per cent for US$61 million for six months, and 4.06 per cent for US$14 million for 12 months.

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“Today’s auction generated aggregate orders of approximately US$2.61 billion, representing an oversubscription rate of 2.19 times.

“The strong outcome reflects the continued confidence in IILM’s highly rated short-term Islamic instruments and its role in supporting cross-border liquidity management,” it said.

IILM said the milestone further cements the issuer’s standing as one of the world's largest and most active sukuk issuers, while reinforcing its pivotal role in supporting cross-border Islamic liquidity management. 

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Its chief executive officer Mohamad Safri Shahul Hamid said the continued strength of investor demand for IILM sukuk reflects the growing importance of high-quality shariah-compliant liquidity instruments in today’s market environment.

“Despite ongoing uncertainties across global financial markets and volatile geopolitical developments, investors continue to value the credit quality, regular supply, and liquidity benefits offered by IILM’s short-term sukuk.

As the only regular issuer of highly rated short-term US dollar-denominated Islamic liquidity instruments, Mohamad Safri said IILM remains committed to supporting the liquidity management needs of Islamic financial institutions worldwide while contributing to the overall development and stability of the Islamic financial services industry.

-- BERNAMA