Record-Breaking Auction Attracts USD 3.49 Billion in Orders, Achieving 2.26 Times Oversubscription Amid Heightened Global Market Uncertainty

Kuala Lumpur, Malaysia – 20 October 2026

The International Islamic Liquidity Management Corporation (IILM) today set a new milestone in its issuance history, successfully issuing and reissuing USD 1.546 billion in short-term Sukuk in its largest-ever auction by issuance volume. The landmark transaction attracted approximately USD 3.49 billion in orders, achieving an oversubscription ratio of 2.26 times and demonstrating the depth of investor demand for IILM’s short-term Islamic liquidity instruments amid heightened global market uncertainty.

The record issuance comes against a backdrop of escalating geopolitical tensions in the Gulf, disruptions to regional energy supplies and shipping routes, elevated oil prices and persistent inflationary pressures. Amid elevated market volatility and evolving monetary policy expectations, IILM continues to play a central role in supporting the short-term liquidity management needs of Islamic financial institutions worldwide.

The record-breaking USD 1.546 billion transaction was issued across five tenors, comprising:
• USD 210 million at 4.20% for 2 weeks;
• USD 397 million at 4.25% for 1 month;
• USD 605 million at 4.34% for 3 months;
• USD 253 million at 4.50% for 6 months; and
• USD 81 million at 4.85% for 12 months.

Mohamad Safri Shahul Hamid, Chief Executive Officer of IILM, said: “Achieving the largest auction in IILM’s history is a significant milestone for the IILM and a strong endorsement of the continued demand for our short-term Sukuk. The ability to execute a
record USD 1.546 billion transaction, supported by approximately USD 3.49 billion in investor orders, reflects the depth of our investor base and the strength of our issuance platform. It further reinforces IILM’s role as a consistent, globally distributed provider of short-term Islamic liquidity instruments, particularly when market conditions are increasingly demanding.”

Year-to-date, IILM has issued USD 25.78 billion across 98 Sukuk series, reflecting the scale and continuity of its issuance activity in the international Islamic money market. All issuances were conducted under IILM’s USD 8.5 billion Short-Term Sukuk Issuance Programme, rated “A-1” by S&P Global Ratings and “F1” by Fitch Ratings.

IILM’s short-term Sukuk are distributed globally through its network of 16 Primary Dealers: Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan Bank, Boubyan Bank, Bank Nizwa, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Jaiz Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank and Standard Chartered Bank.

Through its published issuance calendar, IILM remains committed to providing a regular and diversified supply of high-quality, Sharīʿah-compliant short-term Sukuk across tenors ranging from two weeks to 12 months, supporting the liquidity management needs of Islamic financial institutions worldwide.