Kuala Lumpur, Malaysia – 16 October 2025.

The International Islamic Liquidity Management Corporation (IILM), world’s leading issuer of Shari’ah-compliant short-term liquidity management instruments, has announced the successful upsizing of its Ṣukūk Programme from USD 6 billion to USD 8.5 billion.

This milestone marks another major achievement in the IILM’s growth journey and reinforces its role as the primary provider of short-term Islamic High-Quality Liquid Assets (HQLA) that support cross-border liquidity needs of Islamic financial institutions worldwide.

Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: “We are proud to announce the expansion of the IILM Ṣukūk Programme from USD 6 billion to USD 8.5 billion, reflecting our continued growth trajectory and commitment to providing a robust platform for liquidity management in the Islamic financial system.”

The upsize comes amid strong and sustained demand for the IILM’s highly rated short-term Ṣukūk, which reached a record USD 5.7 billion outstanding in May 2025 — the highest since the Ṣukūk Programme’s inception in 2013. Over the past two years, the IILM has also strengthened its market reach through the onboarding of five new primary dealers, broadening its distribution network and market depth. The expansion comes as a timely response to the growing demand from financial institutions and investors seeking high-quality Shari’ah compliant instruments.

“This latest upsizing of our Ṣukūk Programme, following last year’s increase from USD 4 billion to USD 6 billion, reflects the IILM’s growth momentum and its pivotal role in advancing global Islamic liquidity management. By deepening and diversifying our asset base, we are better positioned to support the evolving needs of Islamic financial institutions worldwide, as well as strengthen the resilience of the Islamic financial ecosystem,” Safri added.

“We extend our heartfelt appreciation to our members as well as to our primary dealers and investors for their unwavering support and partnership”, said Safri.
Since its inaugural issuance in 2013, the IILM has issued over USD 130 billion across more than 300 short-term Ṣukūk series, ranging from one-month to 12-month tenors. The IILM’s instruments are rated “A-1” by S&P Global Ratings and “F1” by Fitch Ratings, respectively.

With this latest upsize, the IILM reaffirms its commitment to strengthening the global Islamic financial system through the provision of innovative, highly-rated, and Shari’ah-compliant liquidity management instruments that underpin market depth and financial stability.