IILM upsizes its Issuance Programme to $4 billion and issues landmark $510 million sukuk

Kuala Lumpur, Malaysia – 22 September 2020 - Today, further to the successful update of the Issuance Programme from USD 3 billion to USD 4 billion, the International Islamic Liquidity Management Corporation (IILM) has successfully conducted an auction by issuing two series of short-term A-1 rated Ṣukūk for a total of USD 510 million.

 “With today’s new issuance, the IILM’s outstanding issuance size and asset pool has increased to USD3.51 billion from USD1.96 billion at the start of 2020.  This is the first time since inception that overall issuance size has exceeded USD3.0 billion, demonstrating the IILM’s continued ability for progressive growth in its regular supply to meet increasing demand of its Sukuk from institutions offering Islamic financial services.  This achievement would not have been possible without the support of our various stakeholders and is even more relevant today in challenging market conditions.  I would like to thank our network of Primary Dealers for their continued support of the IILM Issuance Programme.” said Dr. Umar Oseni, CEO of the IILM.