The IILM Act 2011is a legal framework that established the International Islamic Liquidity Management Corporation (IILM). This act, passed by the Malaysian Parliament, facilitates the issuance of short-term, Shariah-compliant financial instruments to enhance cross-border Islamic liquidity management. The IILM Act outlines the corporation’s objectives, governance structure, and operational framework, enabling it to support financial institutions in managing liquidity more effectively, thereby contributing to the stability and development of the global Islamic financial system.

The IILM’s Articles of Agreement serve as the foundational document that governs the operations, structure, and mission of the International Islamic Liquidity Management Corporation (IILM). Established by its member central banks and monetary authorities, the Articles outline the corporation’s objectives, including the issuance of short-term, Shariah-compliant financial instruments to support Islamic liquidity management globally. They detail the governance framework, including the roles of the General Assembly and the Board of Directors, decision-making processes, and the rights and responsibilities of its members, ensuring the IILM operates effectively to promote financial stability in the Islamic finance sector.

The IILM’s By-Laws provide detailed rules and procedures that govern the day-to-day operations and internal management of the International Islamic Liquidity Management Corporation (IILM). These By-Laws complement the Articles of Agreement, specifying the roles, responsibilities, and conduct of the corporation’s officers and staff, including the CEO and Board of Directors. They outline procedures for meetings, decision-making processes, and the issuance of IILM’s Shariah-compliant financial instruments. The By-Laws ensure transparency, accountability, and efficiency in the IILM’s operations, enabling it to fulfill its mandate of supporting liquidity management in the global Islamic finance market.