Kuala Lumpur, Malaysia – 11 September 2025

The International Islamic Liquidity Management Corporation (IILM), an international organisation that develops and issues short-term Shari’ah-compliant financial instruments, has successfully completed the reissuance of an aggregate USD 960 million short-term Ṣukūk across three different tenors of one, three, and six-month respectively.

The three series were priced competitively at:
i) 4.30% for USD 260 million for 1-month tenor;
ii) 4.20% for USD 550 million for 3-month tenor; and,
iii) 4.12% for USD 150 million for 6-month tenor.

The transaction marks the IILM’s sixteenth Ṣukūk auction year-to-date, bringing total issuances to USD 16.61 billion across 49 Ṣukūk series of varying tenors. Today’s issuance also follows closely on the heels of last week’s USD 1.285 billion offering.

The auction attracted robust demand from the IILM’s network of Primary Dealers and a diversified base of global investors, generating total bids of USD 2.3 billion and achieving a strong average bid-to-cover (BTC) ratio of 2.4 times, underscoring the continued role of the IILM Ṣukūk as a high-quality liquidity management instrument.

Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: “As markets contend with heightened uncertainty from escalating geopolitical tensions alongside shifting monetary policy expectations, today’s successful issuance underscores both the resilience of the IILM Ṣukūk programme and the continued confidence of our global investor base. Our regular bi-monthly auctions, averaging between USD 1.5 and 1.8 billion, have become a dependable source of stability and liquidity for Islamic financial institutions navigating challenging global conditions.”

The IILM’s consistent supply of high-quality, short-term Islamic papers despite challenging macroeconomic conditions is not only vital for supporting liquidity and risk management needs, but also reinforces our role as a trusted anchor in the global Islamic finance ecosystem, enabling institutions to manage volatility with greater confidence.”

The issuance forms part of the IILM’s “A-1” (S&P) and “F1” (Fitch Ratings) rated USD 6 billion short-term Ṣukūk issuance programme.

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.