The latest achievement comes after a landmark USD 1.435 billion auction, the largest offering in 2025 to date and featured the inclusion of a new short-term asset amounting to USD 150 million, further diversifying the IILM’s Ṣukūk offerings

Kuala Lumpur, Malaysia – 4 November 2025.

The International Islamic Liquidity Management Corporation (IILM), the world’s leading issuer of Shari’ah-compliant short-term liquidity management instruments, is pleased to announce that its outstanding short-term Ṣukūk portfolio reached a new record level of USD 6.2 billion.

This follows the successful issuance and reissuance of an aggregate USD 1.435 billion short-term Ṣukūk across four tenors of one, three, six, and twelve-months, making the largest auction conducted by the IILM in 2025 to date.

The four series were priced competitively as follows:
i) 4.15% for USD 590 million for 1-month tenor;
ii) 4.08% for USD 490 million for 3-month tenor;
iii) 4.25% for USD 280 million for 6-month tenor; and,
iv) 4.10% for USD 75 million for 12-month tenor.

The transaction marks the IILM’s nineteenth Ṣukūk auction year-to-date (YTD), bringing its total issuances in 2025 to USD 20.2 billion across 60 series of varying tenors. This latest issuance is conducted under the IILM’s USD 8.5 billion short-term Ṣukūk Issuance Programme, which carries the highest short-term credit ratings of “A-1” from S&P Global Ratings and “F1” from Fitch Ratings.

The auction garnered strong demand from the IILM’s network of Primary Dealers and a broad base of institutional investors across multiple jurisdictions, attracting total bids amounting to USD 3.4 billion and recording a competitive average bid-to-cover (BTC) ratio of 2.37 times. The outcome reaffirms the status of the IILM Ṣukūk as a leading high-quality, Shari’ah-compliant liquidity management instrument that continues to serve the evolving needs of Islamic financial institutions globally.

“This transaction represents a key milestone for the IILM, not only as our largest single monthly issuance to date in 2025, but also as a clear demonstration of the sustained confidence of investors in the IILM’s platform,” said Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM.

“Amid a dynamic global rate environment, we continue to deepen and diversify our short-term Ṣukūk offerings, marked by the successful onboarding of a new USD 150 million short-term asset. This milestone brings our total asset base to an all-time high of USD 6.2 billion, underscoring the strong momentum in enhancing market liquidity, widening investor participation and reinforcing the resilience of the Islamic finance ecosystem.”

The IILM’s short-term Sukῡk is distributed by a diversified and growing network of primary dealers globally, namely Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank.

The IILM is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services. The IILM will continue to reissue its short-term liquidity instruments monthly as scheduled in its issuance calendar.