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IILM issues $860m sukuk

January 21, 2014

DOHA / KUALA LUMPUR : The Malaysia -based International Islamic Liquidity Management Corporation (IILM) has successfully conducted its sukuk issuance programme by auctioning $860m of three-month Islamic bonds at a yield of 0.55635 percent. The issue was sold to nine primary dealers from Asia , the Middle East and Europe , including Qatar National Bank . The issue brings the total amount of the IILM's outstanding sukuk to $1.35bn . The IILM is an international institution established in 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 , Luxembourg, Malaysia , Mauritius , Nigeria , Qatar , Turkey , the UAE and the Islamic Development Bank Group . The Peninsula

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Source: Peninsula, The (Qatar)

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