Posts tagged as: International Islamic Liquidity Management

IILM to issue debut sukuk of USD490m in August

IILM to issue debut sukuk of USD490m in August

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&a…

IILM reshuffles Shariah board

IILM reshuffles Shariah board

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 lat…

IILM treads fine line in designing maiden sukuk

IILM treads fine line in designing maiden sukuk

The Malaysia-based International Islamic Liquidity Management Corp (IILM), backed by nine central banks and monetary agencies as well as the Jeddah-based Islamic Development Bank, has said it plans to issue up to $500mn of dollar-denominated sukuk in the second quarter of this year, and eventually expand the programme to as much as $3bn. However, the company faces a delicate task as it designs its maiden sukuk: it must make the issue attractive enough for investors to buy, but not so attractive that most of them buy to hold. The IILM’s mission is to create a highly liquid tool which Islamic banks will trade to manage their short-term funds. Whether it gets the balance right will affect the development of Islamic money market trading in the Gulf and Southeast Asia over the coming year.

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International Islamic Liquidity Management 2 SA’s US$500 million landmark Islamic Finance program assigned ‚A-1‘ rating

International Islamic Liquidity Management 2 SA’s US$500 million landmark Islamic Finance program assigned ‚A-1‘ rating

Standard & Poor’s Ratings Services said that it has assigned its ‚A-1‘ rating to International Islamic Liquidity Management 2 SA’s US$500 million Islamic finance program. The vehicle has been established with the sole purpose of purchasing sovereig…

IILM plans early 2013 sukuk debut

IILM plans early 2013 sukuk debut

The International Islamic Liquidity Management Corp (IILM) intends to issue its first sukuk at the beginning of 2013. A board meeting next week has been scheduled by the company. Plans concerning the issuance will be discussed there an length.

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