Home/Indicative Issuance Calendar

The IILM short-term Sukuk are issued monthly through a network of 10 Primary Dealers under a programme size of USD 4 billion rated “A-1” by S&P and a newly received second rating of “F1” by Fitch in September 2022. The IILM has successfully stabilised its outstanding issuances in 2022 to USD 3.51 billion, addressing the rising demand for high quality assets from the Institutions offering Islamic Financial Services (IIFS).

The IILM has continued to fulfil its mandate of providing liquidity management instruments to the market by supplying USD 11.52 billion in 2023, across 36 USD Sukuk through 4 different tenors (1, 3, 6, and 12-month). As of end November 2023, the secondary market volume has reached USD 3.03 billion, the highest volume since inception, representing circa 26% of the total issuance this year.

In 2023, the IILM accomplished a monumental milestone, as the cumulative issuance since its first issuance crossed the remarkable 100 billion USD IILM Sukuk mark. This achievement is a testament of the IILM commitment to serve the Islamic Finance sector by providing high-quality liquid instruments.

Looking ahead into 2024, the IILM will continue to focus on initiatives to enhance its issuance programme with new features, diversifying its investor base and thus bolstering liquidity for the IILM Sukuk on the secondary market.

The IILM Sukuk consist of liquidity management instruments with the following characteristics:

  • 10-year track record with 234 issuances, from 2-week to 12-month tenor, amounting to a total of USD 100.94 billion Sukuk
  • High credit quality instrument backed by a pool of Sovereign, Supranational and Sovereign-linked assets rated “A’ and above
  • Appropriate HQLA regulatory treatment in various jurisdictions
  • Tradable and supported by a robust primary/secondary market infrastructure based in GCC, Asia and Europe
  • Widely acceptable under Shari’ah principles (~80% tangibility ratio under Wakala Structure)

The IILM Primary Dealers by alphabetic order are as follows:

  1. Abu Dhabi Islamic Bank;
  2. Al Baraka Turk;
  3. Dukhan Bank (former Barwa Bank);
  4. Boubyan Bank;
  5. CIMB Islamic;
  6. First Abu Dhabi Bank;
  7. Kuwait Finance House;
  8. Maybank Islamic;
  9. Qatar Islamic Bank; and
  10. Standard Chartered Bank.

2024 IILM Indicative Sukuk Issuance Calendar

Announcement Date
Auction Date
Issuance Date
Tenor
Total Size (USD ‘Million)
New/Re-issuance
Maturity Date
Tue, 9 Jan, 2024
Tue, 16 Jan, 2024
Thu, 18 Jan, 2024
1-month
840
Re-issuance
Wed, 7 Feb, 2024
3-month
Re-issuance
Mon, 8 Apr, 2024
6-month
Re-issuance
Thu, 11 July, 2024
Mon, 29 Jan, 2024
Mon, 5 Feb, 2024
Wed, 7 Feb, 2024
1-month
1,050
Re-issuance
Thu, 7 Mar, 2024
3-month
Re-issuance
Mon, 13 May, 2024
6-month
Re-issuance
Thu, 8 Aug, 2024
Tue, 27 Feb, 2024
Tue, 5 Mar, 2024
Thu, 7 Mar, 2024
1-month
980
Re-issuance
Mon, 8 Apr, 2024
3-month
Re-issuance
Thu, 6 Jun, 2024
6-month
Re-issuance
Thu, 5 Sep, 2024
Tue, 26 Mar, 2024
Tue, 2 Apr, 2024
Mon, 8 Apr, 2024
1-month
600
Re-issuance
Mon, 13 May, 2024
3-month
Re-issuance
Thu, 11 Jul, 2024
6-month
Re-issuance
Thu, 3 Oct, 2024
Tue, 30 Apr, 2024
Tue, 7 May, 2024
Mon, 13 May, 2024
1-month
1,030
Re-issuance
Thu, 6 Jun, 2024
3-month
Re-issuance
Thu, 8 Aug, 2024
6-month
Re-issuance
Thu, 7 Nov, 2024
Tue, 28 May, 2024
Tue, 4 Jun, 2024
Thu, 6 Jun, 2024
1-month
1,190
Re-issuance
Thu, 11 Jul, 2024
3-month
Re-issuance
Thu, 5 Sep, 2024
12-month
Re-issuance
Thu, 5 Jun, 2025
Tue, 2 Jul, 2024
Tue, 9 Jul, 2024
Thu, 11 Jul, 2024
1-month
800
Re-issuance
Thu, 8 Aug, 2024
3-month
Re-issuance
Thu, 3 Oct, 2024
6-month
Re-issuance
Thu, 16 Jan, 2025
Tue, 30 Jul, 2024
Tue, 6 Aug, 2024
Thu, 8 Aug, 2024
1-month
920
Re-issuance
Thu, 5 Sept, 2024
3-month
Re-issuance
Thu, 7 Nov, 2024
6-month
Re-issuance
Wed, 6 Feb, 2025
Tue, 27 Aug, 2024
Tue, 3 Sep, 2024
Thu, 5 Sep, 2024
1-month
1,050
Re-issuance
Thu, 3 Oct, 2024
3-month
Re-issuance
Mon, 9 Dec, 2024
6-month
Re-issuance
Thu, 6 Mar, 2025
Tue, 24 Sep, 2024
Tue, 1 Oct, 2024
Thu, 3 Oct, 2024
1-month
1,070
Re-issuance
Thu, 7 Nov, 2024
3-month
Re-issuance
Thu, 16 Jan, 2025
12-month
Re-issuance
Thu, 2 Oct, 2025
Tue, 29 Oct, 2024
Tue, 5 Nov, 2024
Thu, 7 Nov, 2024
1-month
930
Re-issuance
Mon, 9 Dec, 2024
3-month
Re-issuance
Thu, 6 Feb, 2025
6-month
Re-issuance
Thu, 8 May, 2025
Wed, 27 Nov, 2024
Wed, 4 Dec, 2024
Mon, 9 Dec, 2024
1-month
1,090
Re-issuance
Thu, 16 Jan, 2025
3-month
Re-issuance
Thu, 6 Mar, 2025
6-month
Re-issuance
Thu, 5 Jun, 2025
Disclaimer: The information contained in the indicative issuance calendar is subject to change without notice. Neither the IILM nor any of its members, nor any of their directors, and employees accepts any liability for any loss or damage arising out of the use of any information contained therein.