Affin Islamic to be the third Malaysian-based global Primary Dealer for the IILM’s ‘A-1’ and ‘F1’ rated short-term Ṣukūk programme





KUALA LUMPUR – The International Islamic Liquidity Management Corporation (“IILM”), an international organisation that develops and issues short-term Shari’ah-compliant financial instruments, has onboarded Affin Islamic Bank Berhad (“Affin Islamic”) as its eleventh Primary Dealer, becoming the third Malaysian-based Primary Dealer for the IILM’s short-term Ṣukūk programme.

The agreement was formalised at the signing ceremony between the IILM’s Chief Executive Officer, Mohamad Safri Shahul Hamid and Affin Islamic Bank Berhad’s Chief Executive Officer, Datuk Paduka Syed Mashafuddin Syed Badarudin during the Global Forum on Islamic Economics and Finance (“GFIEF”) in Kuala Lumpur, today.

The signing ceremony was witnessed by Bank Negara Malaysia (“BNM”)’s Deputy Governor, Adnan Zaylani Mohamad Zahid.

Chief Executive Officer of ILM, Mohamad Safri Shahul Hamid said, “The IILM has served the global Islamic financial markets well over the last 10 years with its short-term Ṣukūk issuance programme and has to-date issued over USD105 billion worth of short-term Ṣukūk, which continues to be well received by Islamic investors. This is in line with the IILM’s core mandate to enhance cross-border investment flows, international linkages and financial stability by creating more liquid Shari’ah-compliant financial instruments for institutions offering Islamic financial services (“IIFS”).”

“We welcome and applaud Affin Islamic as the IILM’s latest Primary Dealer, which is a testament to the importance and significance of the IILM short-term Ṣukūk for investors in Malaysia and at large. We are fully committed to and focused on delivering our mandate and playing our part in bridging the gap, particularly in the Islamic liquidity management space globally,” Safri added.

Chief Executive Officer of Affin Islamic Bank Berhad, Datuk Paduka Syed Mashafuddin Syed Badarudin said, “We are indeed very pleased to be joining IILM’s global network of diversified Primary Dealers and to be able to offer our investors unique liquidity management Shari’ah-compliant solutions. The IILM’s instruments are globally recognised to be innovative, unique and of high quality and plays an important role in increasing liquidity in Islamic financial markets. The IILM’s role in Islamic banking industry continues to be important and we look forward to forming a close relationship with them.”

The IILM’s USD 4 billion short-term Ṣukūk issuance programme is rated “A-1” by S&P and “F1” by Fitch Ratings. The IILM regularly issues short-term Ṣukūk across varying tenors and amounts to cater to the liquidity management needs of institutions offering Islamic financial services.

The IILM’s short-term Sukῡk is currently distributed through a diversified network of 10 primary dealers globally, namely Abu Dhabi Islamic Bank, Al Baraka Turk, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Kuwait Finance House, Maybank Islamic Berhad, Qatar Islamic Bank, and Standard Chartered Bank.


About the IILM

The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 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, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector. Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations. The IILM is hosted by Malaysia and headquartered in Kuala Lumpur.

About AFFIN Group

Affin Bank Berhad operates as the financial holding entity of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad, Affin Moneybrokers Sdn Bhd. Generali Insurance Malaysia Berhad and Generali Life Insurance Malaysia Berhad are affiliated companies of Affin Bank Berhad.

AFFIN Group provides an array of financial products and services catering to individual, enterprise, commercial and corporate clients. The focus market segments are categorised under essential business units such as Community Banking, Enterprise Banking, Corporate Banking, Treasury, and Investment Banking. For more information, please visit

For more information, please contact:

The International Islamic Liquidity Management Corporation (IILM):
Danial Idraki Abd Halim
Corporate Communications
T: +60(3) 2170 5050
F: +60(3) 2170 5111

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Affin Bank Berhad:
Ulfat Khasyi’ah Baharudin
Head, Media & Public Relations
Phone: +60126410320

Sharifah Syahirah Syed Azlan
Manager, Media & Public Relations
Contact Number: +60162641675

Amirah Aliah Azlan
Assistant Manager, Media & Public Relations
Contact Number: +60123688359

Download the Arabic version of the press release here.