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International Islamic Liquidity Management Corp (IILM) plans to sell US$1.34bil (RM5.54bil) of three-month bills, its biggest offering since being set up in 2010 to support syariah-compliant financial activity. The Kuala Lumpur-based institution would auction the Islamic notes on Feb 18, it said in a statement. IILM has a short-term issuer rating of A-1 from Standard & Poor’s, and has sold a total US$14bil of debt denominated in the US currency. While IILM has increased issuance of short-term paper each year since its debut offering in 2013, the supply is far short of the US$400bil that Ernst & Young LLP estimates is needed to help Islamic banks manage their liquidity.

Short term Sukuk rated A-1 by Standard and Poor’s Rating Services (S&P’s) have been issued by the International Islamic Liquidity Management (IILM). The 3 month sukuk for $860 was issued at a profit rate of 0.63960%. Orders for $980m were received. IILM sells its Sukuk through its primary dealers which were added to in this auction by Qatar Islamic Bank and Boubyan Bank. As at October 2015, the IILM Sukuk that have been issued and reissued amounted to USD12.69 billion.

Kuwait Finance House (KFH) participated as a primary dealer for short-term Sukuk issued by the International Islamic Liquidity Management IILM worth $1.85 billion. KFH is considered as the most active dealer in the market in terms of acquisition and volume traded. AbdulWahab Al-Roshoud, Acting Chief Treasury Officer at KFH, said that the average trading of IILM's previous three issuances in the secondary market surpassed 50 per cent of their volume which is considered high in comparison with the rest of Sukuk, indicating that this reflects the market’s strength and its contributions in increasing the liquidity. KFH forecasts that several local and global banks will participate in IILM’s upcoming Sukuk.

Demand for Islamic bonds issued by the International Islamic Liquidity Management Corp (IILM) is growing, signaling widening popularity for a programme designed as a cross-border tool for Islamic banks to manage their liquidity needs. The Kuala Lumpur-based body is a likely beneficiary of a decision by Malaysia's central bank to wind down its own sales of sukuk, which could in turn spur the IILM to expand its $3 billion issuance programme. A boost in demand could help widen the membership base of the IILM and encourage regulators across Asia and the Middle East to approve the use of IILM sukuk by their Islamic banks. Growing popularity of IILM sukuk could also improve its secondary market activity.

Short term Sukuk rated A-1 by Standard and Poor’s Rating Services (S&P’s) have been issued by the International Islamic Liquidity Management (IILM). IILM order book picks up from previous auction for A-1 rated (S&P) Sukuk. $490m issued from orders received of $1.288 Billion from 10 Bids. IILM sells its Sukuk through its primary dealers, who consist of: Abu Dhabi Islamic Bank, AlBaraka Turk, CIMB Islamic Bank Bhd, Luxembourg's KBL Private Bankers, Kuwait Finance House, Maybank Islamic Bhd, National Bank of Abu Dhabi, Qatar National Bank, Standard Chartered Bank and Barwa Bank.

The International Islamic Liquidity Management (IILM) has successfully reissued USD990 million benchmark size short-term Sukuk. i) A USD490 million 3-month tenor priced at 0.56260% profit rate, which received total bids of $1.1 1 billion from 11 bids. ii) A USD500 million 6-month tenor priced at 0.78570% profit rate, which received total bids of just over $1 billion from 14 bids. The reissuance of USD990 million Sukuk auction was fully subscribed by IILM primary dealers. After a quiet start to 2015, Sukuk market activity picked up this week a short-term issuance by the Bahrain Central Bank and with announcements of upcoming issuances from Gulf Finance House, Qatar Islamic Bank, Indonesian national air carrier Garuda Indonesia, and the Islamic Development Bank.

Malaysia-based International Islamic Liquidity Management Corp (IILM) will hold two auctions next week to issue a combined US$990mil (RM3.6bil) worth of sukuk, under a programme that is now authorised to issue US$3bil (RM10.9bil) in short-term paper. The IILM would auction US$490mil (RM1.8bil) worth of three-month sukuk and US$500mil of six-month sukuk on Tuesday. It is only the second time IILM has issued six-month paper. The IILM programme, rated A-1 by Standard and Poor’s, has US$1.85bil (RM6.7bil) worth of sukuk currently outstanding.

The Malaysia-based International Islamic Liquidity Management Corp (IILM) will hold two auctions next week to issue a combined $990 million worth of sukuk, under a programme that is now authorised to issue $3 billion in short-term paper. The IILM will auction $490 million worth of three-month sukuk and $500 million of six-month sukuk next Tuesday. It is only the second time the IILM has issued six-month paper. The IILM programme, rated A-1 by Standard and Poor's, has $1.85 billion worth of sukuk currently outstanding. Its sukuk programme permits maturities of up to one year.

Malaysia-based International Islamic Liquidity Management Corp (IILM) has reissued $860 million worth of three-month Islamic bonds. The auction drew 11 bids worth $1.065 billion, with the sukuk priced at a profit rate of 0.553 percent. The IILM last went to the market in November when it increased its outstanding sukuk programme, rated A-1 by Standard and Poor's, to $1.85 billion from $1.65 billion. IILM sukuk are designed to meet a shortage of highly liquid, investment-grade financial instruments which Islamic banks can trade to manage their short-term funding needs.

Malaysia-based International Islamic Liquidity Management Corp (IILM) hopes to widen its membership base as it seeks feedback from the market on its Islamic bond issuance programme. The IILM's short-term sukuk programme now has $1.65 billion of sukuk outstanding and could eventually grow to more than $2 billion; nine countries are directly represented in the IILM and it is keen to add more. A wider membership would boost demand for the IILM's sukuk, since Islamic banks in certain countries cannot hold IILM sukuk without permission from their local regulator. One potential new member is Oman; that country's central bank governor told Reuters last October that it was considering whether to join the IILM or allow its banks to hold IILM sukuk.

Malaysia-based International Islamic Liquidity Management Corp (IILM) will raise $790 million through its Islamic bond programme next week, according to a filing with the central bank. The IILM, a consortium of central banks from Asia, the Middle East and Africa, will auction a three-month $390 million sukuk and a six-month $400 million sukuk on Monday Aug. 25. IILM last went to the market in July to re-issue $860 million worth of three-month papers, in order to meet a shortage of highly liquid, investment-grade financial instruments which Islamic banks can trade to manage their short-term funding needs.

Malaysia-based International Islamic Liquidity Management Corp (IILM) has reissued $860 million of its three-month Islamic bond. The three-month sukuk, rated A-1 by Standard and Poor's, was priced at a yield of 0.52 percent. The issuance was fully subscribed by nine banks acting as primary dealers, including Abu Dhabi Islamic Bank, CIMB and Maybank. IILM last went to the market in May to re-issue $490 million worth of three-month paper, designed to meet a shortage of highly liquid, investment-grade financial instruments which Islamic banks can trade to manage their short-term funding needs. Shareholders of the IILM are the central banks of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey and the United Arab Emirates, as well as the Jeddah-based Islamic Development Bank.

Malaysia-based International Islamic Liquidity Management Corp (IILM) will reissue $860 million of its three-month Islamic bond next week, after expanding its issuance programme to $1.35 billion in January. The auction of the three-month sukuk, rated A-1 by Standard and Poor's, will be conducted on Apr. 17. In February, the IILM sold $490 million worth of three-month paper, designed to meet a shortage of highly liquid, investment-grade financial instruments which Islamic banks can trade to manage their short-term funding needs.

Indonesia’s central bank hopes to attract a local bank to sign up as primary dealer for short-term sukuk issued by the International Islamic Liquidity Management Corp (IILM). Bank Indonesia is one of 10 shareholders in the Malaysia-based institution, but it still lacks a local dealer bank for IILM sukuk. IILM sukuk just got issued recently, with limited outstanding, its illiquid and does not have secondary market. Hence, IILM sukuk is not yet well known by Indonesia-based primary dealers. A domestic primary dealer could help address this problem, even though other dealer banks have an indirect presence in the country, such as CIMB Islamic, Maybank Islamic and Standard Chartered Bank. Moreover, it could help the central bank justify its $5 million shareholding in the IILM.

The Malaysia-based International Islamic Liquidity Management Corp (IILM) will issue a $490 million three-month Islamic bond next week, after expanding its issuance programme to $1.35 billion in January. The auction of the three-month sukuk, rated A-1 by Standard and Poor's, will be conducted on Feb. 25. Last month, the IILM sold $860 million worth of three-month paper, designed to meet a shortage of highly liquid, investment-grade financial instruments for the short-term funding needs of Islamic banks. Since the programme's launch, primary dealers have held on to the IILM instruments after auction and there has been little if any secondary market trade in them.

The International Islamic Liquidity Management expanded its sukuk issuance programme today by auctioning US$860 million (RM2.85 billion) of three-month Islamic bonds at a yield of 0.55635 per cent. The issue brings the total amount of the IILM’s outstanding sukuk to US$1.35 billion. Its programme, launched last year, envisages issuance increasing eventually to as much as US$2 billion. The newest issue was sold to nine primary dealers from Asia, the Middle East and Europe. Since the programme’s launch, primary dealers have held on to the IILM instruments after auctions and there has been little if any secondary market trade in them.

The $490 million, three-month Sukuk, issued by the International Islamic Liquidity Management Corp (IILM), was auctioned to seven primary dealers from Asia, theMiddle East and Europe. However, this will only be a major breakthrough for Islamic finance if IILM sukuk are actively traded by Islamic banks, rather than held to maturity. It is not clear whether the existing primary dealer network - which includes only two purely Islamic financial institutions - is broad enough to engineer trade in IILM sukuk across major markets. The prevalence of conventional banks in the dealer group suggests the IILM may have decided to choose the largest possible primary dealers in order to maximise distribution of the sukuk. But it also raises the possibility that the instrument could be bought by conventional institutions rather than the Islamic banks which most need it.

The Malaysia-based International Islamic Liquidity Management Corp (IILM) has issued its USD 490 million debut sukuk. The three-month Islamic bonds, denominated in US dollars, were fully subscribed. The IILM sukuk received a high A-1 credit rating from Standard & Poor’s, and the IILM has said it plans to increase its issuance eventually to as much as USD 3 billion. The sukuk, priced at 30 basis points over the London Interbank Offered Rate, was auctioned off to seven institutions from around the world. These primary dealers will now be responsible for selling the sukuk on to other Islamic banks and institutions in an effort to create an active market in the instruments.

Malaysia-based International Islamic Liquidity Management Corp (IILM) will issue its long-awaited sukuk programme worth $490 million (RM1.6 million) this month, offering tenors of three months. The dollar-denominated sukuk programme, rated "A-1" by S&P, is backed by sovereign assets from member countries and will carry maturities of up to one year. IILM delayed its maiden issue several times and replaced its chief executive in October last year. It plans to raise the programme to as much as US$3 billion, aided by a multi-jurisdictional network of primary dealers that will ensure a secondary market, which includes Albaraka Turk and Standard Chartered as primary dealers.

The Malaysia-based International Islamic Liquidity Management Corp. (IILM) has reshuffled its Shariah board, losing four of its original six members. The IILM has been troubled by internal management upheaval, like the change of its chief executive late last year and the surprise pullout of Saudi Arabia's central bank in April this year. The changes to the Shariah board, which monitors the IILM's activities and instruments to ensure that they follow Islamic principles, could indicate further delays to the body's plan to begin issuing sukuk. The IILM announced in April that it aimed to make an initial issue worth up to $500 million in the second quarter of this year but has not yet proceeded with the plan, and it has not given a new time frame for it. The body did not issue a statement on the changes to its Shariah board.