“On behalf of the IILM, I would like to extend our congratulations to the top ranked Primary Dealers in continuing to contribute to the growth and strengthening of the cross-border Islamic liquidity management framework. This recognition is well deserved and is made even more pertinent in a year marked by significant market turmoil and challenges due to Covid-19. We are pleased to have built on our long-standing partnerships with all our Primary Dealers and investors to expand our issuance activities and programme in a landmark 2020 year. We look forward to working together to record further achievements for 2021.” said Dr Umar Oseni, Chief Executive Officer of the IILM.

Kuala Lumpur, Malaysia – 17 February 2021.

Since 2013, the IILM has published the league table of top three most active Primary Dealers at primary and since 2019 at secondary market. For 2020, in addition to capping off the year with the highest issuance amount on record of USD11.95 billion across 35 series, the IILM is pleased to announce that the final overall rankings of Primary Dealers are as follows:

For Primary Dealer participation and distribution in primary auctions:

1. Maybank Islamic
2. Standard Chartered Bank
3. Kuwait Finance House

For Primary Dealer activity and footprint in secondary market:

1. First Abu Dhabi Bank
2. Kuwait Finance House
3. Abu Dhabi Islamic Bank

The above assessment takes into account key aspects of Primary Dealers’ role to distribute the IILM Sukuk at primary, reach out to a broad investor base and to ensure liquidity of the short-term Islamic instruments in the secondary market. Primary market appraisal is based on successful bids realised at auctions during the year, whereas secondary market activity is ranked based on turnover and percentage contribution in secondary market.

“On behalf of the IILM, I would like to extend our congratulations to the top ranked Primary Dealers in continuing to contribute to the growth and strengthening of the cross-border Islamic liquidity management framework. This recognition is well deserved and is made even more pertinent in a year marked by significant market turmoil and challenges due to Covid-19. We are pleased to have built on our long-standing partnerships with all our Primary Dealers and investors to expand our issuance activities and programme in a landmark 2020 year. We look forward to working together to record further achievements for 2021.” said Dr Umar Oseni, Chief Executive Officer of the IILM.

Top Primary Dealers Quotes

“Maybank Islamic Berhad (‘MIB’) is truly humbled and honored to be recognized as the #1 Primary Dealer for the year 2020 in the Primary Market Rankings of the International Islamic Liquidity Management Corporation (‘IILM’). Domiciled in Malaysia, the Global Hub of Islamic Finance, IILM performs an instrumental role for the International Islamic Financial System with its influential IILM Sukuk, a high credit quality liquidity instrument that commanded a 30% market share of all Sukuk issued globally in 2020. I am confident that IILM will continue to innovate benefitting the Islamic Finance Industry encompassing sustainability initiatives and values whilst delivering on its core mission. Assuredly, MIB and Maybank Group will remain a dedicated strategic partner supporting IILM as we have been since inception,” said Dato’ Mohamed Rafique – Group Chief Executive Officer, Islamic Banking – Maybank and CEO, Maybank Islamic Berhad.

“Over the last few years, the International Islamic Liquidity Management Corporation (‘IILM’) has continued to grow as a pioneer and market leader with a clear strategy to address the liquidity management challenges faced by the Islamic Financial Institutions globally. As FAB continues to grow stronger with IILM as a partner, I am very pleased to see our bank rank top primary dealer for secondary markets for two consecutive years. Our ongoing commitment to support the IILM Issuance Programme through providing liquidity and fostering the development of the secondary market will in our view continue to shape the Islamic secondary markets in the years to come,” said Saeed Wajdi, Head of Global Markets, First Abu Dhabi Bank.

Primary and Secondary Full Ranking

For the participation in auctions and primary allocations, the 2020 ranking of the Financial Institutions is as follows:

1. Maybank Islamic
2. Standard Chartered Bank
3. Kuwait Finance House
4. First Abu Dhabi Bank
5. Boubyan Bank
6. CIMB Islamic
7. Abu Dhabi Islamic Bank
8. Dukhan Bank (former Barwa bank)
9. Al Baraka Turk
10. Qatar Islamic Bank

For the contribution to the development of the secondary market, the 2020 ranking of the top Primary Dealers is as follows:

1. First Abu Dhabi Bank
2. Kuwait Finance House
3. Abu Dhabi Islamic Bank
4. Al Baraka Turk
5. Qatar Islamic Bank
6. Dukhan Bank (former Barwa Bank)
7. Standard Chartered Bank