Kuala lumpur: The International Islamic Liquidity Management Corporation (IILM) has reissued a total of US$800 million (US$1=RM4.23) in short-term sukuk across three tenors, with the offering oversubscribed by 2.3 times. The auction attracted significant interest, drawing in US$1.9 billion in bids from IILM’s network of primary dealers and global investors.

According to BERNAMA News Agency, the issuance comprised a US$305 million two-week tenor at 4.40 per cent, a US$355 million three-month tenor at 4.49 per cent, and a US$140 million six-month tenor at 4.38 per cent. This marks IILM’s 13th auction of the year, contributing to a cumulative issuance of US$13.15 billion across 39 sukuk series of varying tenors.

Chief Executive Officer Mohamad Safri Shahul Hamid commented on the auction’s success, noting it demonstrates ongoing investor interest in shariah-compliant liquidity instruments amid global uncertainties. The auction’s outcome highlights the robust demand for high-quality Islamic liquidity instruments
, despite the uncertainty surrounding the United States Federal Reserve’s rate trajectory and broader shifts in global monetary policy.

Mohamad Safri further explained that financial markets remain cautious as central banks balance persistent inflationary pressures against signs of moderating economic growth. He emphasized that the IILM’s ability to consistently attract strong participation across all tenors reflects market confidence in their sukuk programme as a reliable tool for short-term liquidity management.

The IILM’s short-term sukuk programme, rated A-1 by S and P Global Ratings and F1 by Fitch Ratings, has a total issuance limit of US$6 billion. The sukuk are distributed through a network of primary dealers, including Maybank Islamic Bhd, CIMB Islamic Bank Bhd, Abu Dhabi Islamic Bank, Kuwait Finance House, Qatar Islamic Bank, and Standard Chartered Bank. The IILM plans to continue reissuing its short-term liquidity instruments monthly, as scheduled in its issuance calendar.