The International Islamic Liquidity Management Corporation (IILM) is an international organisation established by nine central banks, and one multilateral organisation to create and issue Shari’ah-compliant financial instruments in order to facilitate effective cross-border Islamic liquidity management.
Our shareholders comprise of eight Central Banks and one multilateral organisation:

To facilitate the policy mandate of the IILM, a Shari’ah-compliant short-term certificate programme was established in 2013 to issue tradable, Shari’ah-compliant instruments to support the varying liquidity needs of institutions offering Islamic financial services (IIFS).

Since the inaugural issuance of USD 490 million 3-month Sukūk in August 2013, the IILM program has grown and the IILM Sukūk outstanding currently stands at USD 3.51 billion. The IILM has issued across different tenors to provide IIFS with different options to better manage their liquidity management requirements.

Islamic liquidity management tool

• Asset-Backed Commercial Paper (ABCP) scalable Programme
• Denominated in USD
• Short-term Sukūk, i.e. tenor below 12 months

Low Risk 

• Investment Grade Short Term: Rated “A-1” by S&P and “F1” by Fitch Ratings
• High quality of the underlying asset pool of Sovereign, Sovereign- linked, Supranational Sukūk
• Appropriate regulatory treatment across jurisdictions

Condusive Infrastructure for Tradibility

• Most widely acceptable and tradable Shari’ah-compliant liquidity instrument
• Frequent issuances of various tenors from 2-week to 12-month
• Diverse network of Primary Dealers to support primary market and facilitate secondary market