IslamicFinance.de

The International Islamic Liquidity Management Corp (IILM) plans to expand issuance of sukuk beyond its current short-term programme to address latent demand from Islamic banks. Establishing a new medium-term programme would allow the IILM to offer a wider range of highly liquid financial instruments. The IILM currently has around $3 billion in outstanding sukuk and it could gradually increase this to between $3.5 to $4 billion, depending on consistency of demand. Around 60% of demand for IILM sukuk comes from Islamic banks in Gulf countries with the rest split across Asia and international banks. But there is also potential for IILM sukuk in non-member countries, such as Oman and Britain as well as jurisdictions such as Hong Kong and Singapore.