IILM move likely to boost IF
The International Islamic Liquidity Management Corporation will launch its first short-term papers in the next six months.
The initial issuance will be relatively small and will be used to test the market and the workings of the system. Subsequent high-quality instruments in major currencies within the $2bn to $3bn range will be regularly issued throughout the year.
The identities of the interested parties were not revealed.
Syndicate
