IslamicFinance.de

The International Islamic Liquidity Management (IILM) has successfully issued a $1.34 bn short-term Sukuk at a profit rate of 1.046%. The Sukuk rated A-1 by Standard and Poor’s will be issued on 24 May and has a maturity of 90 days. ILM sells its Sukuk through its primary dealers, who consist of: Abu Dhabi Islamic Bank, AlBaraka Turk, CIMB Islamic Bank, Luxembourg’s KBL Private Bankers, Kuwait Finance House, Maybank Islamic, National Bank of Abu Dhabi, Qatar National Bank, Standard Chartered Bank and Barwa Bank.

Bank Indonesia (BI) has received an approval from the House of Representatives to contribute US$5 million in equity to the newly established International Islamic Liquidity Management (IILM) to support the country’s growing Islamic banking sector.
The IILM would also widen investors’ basis for global debt papers, including global sukuk issuances, and increase Indonesia’s participation in growing the Sharia industry both globally and regionally.