liquidity management is a critical aspect of any financial system, and I applaud the IILM’s commitment in staying at the forefront of these developments and continuously adapting to better serve the wider Islamic finance industry

Doha, Qatar – 9 November 2023

The International Islamic Liquidity Management Corporation (IILM) is pleased to announce that it successfully organised a collaborative capacity building programme with the Qatar Central Bank, titled ‘The IILM-QCB Capacity Building Programme for Qatari Banks and Financial Institutions’, in Doha, Qatar, today.

The programme was divided into three main sessions: a masterclass presentation on the critical role of the IILM as the sole provider of Islamic High Quality Liquid Assets (HQLA) in USD cross-border instrument, a panel discussion on the domestic Islamic capital market development in Qatar as well as the role of Islamic financial market in enhancing the capital market.

The capacity building event brought together key stakeholders from the Islamic finance industry in Qatar, to engage in thoughtful discussions on the current state of liquidity management landscape and to explore the role of the Islamic financial market in enhancing and developing the domestic capital market in Qatar.

In his speech, Sheikh Ahmed bin Khalid Al Thani, Assistant Governor, highlighted the importance of this joint programme as it contributes to supporting the financial sector in the country stating that: “The topics raised during the workshop highlighted their importance to Islamic financial institutions including Islamic banks for the development of Islamic capital markets in Qatar, in line with QCB’s strategic initiatives”.

Sheikh Ahmed also praised the engagement and productive deliberations throughout the day as the programme provided the ideal platform for the participants and speakers to exchange ideas and experiences, which would enhance the spirit of initiative and innovation, calling for continued knowledge sharing and collaboration between industry stakeholders, particularly market practitioners and international Islamic finance institutions.

Furthermore, liquidity management is a critical aspect of any financial system, and I applaud the IILM’s commitment in staying at the forefront of these developments and continuously adapting to better serve the wider Islamic finance industry. The organisation’s recent achievement of crossing the USD 100 billion mark in total Sukūk issuances since inception is a testament to its commitment in providing Islamic financial institutions with access to HQLA”, Sheikh Ahmed added.

Dr. Umar Oseni, Chief Executive Officer of the IILM, said: “Today’s event provided a unique platform for industry professionals, experts, and regulators to come together, share insights, and nurture a deeper understanding of Islamic finance in Qatar, where the panel session had a productive interaction between local banks and regulators on the challenges and opportunities in developing the Qatar capital market.”

“My deepest appreciation to the Qatar Central Bank (QCB) for playing a pivotal role in bringing to life today’s event, and whose support brings immense value for all of us here today. QCB’s commitment to fostering financial stability, enhancing liquidity management, and advancing the Qatar’s Islamic capital market is truly commendable, and we are deeply appreciative of their dedication to empowering Qatari institutions and enriching our knowledge base,” he added.

The event, which comes on the back of the IILM’s 10-year anniversary of the first Ṣukūk issuance in 2013, was attended by approximately 100 finance professionals from Qatar.