The IILM Completes Its Third Sukuk Auction for 2021 with USD 1.40 billion in Short-term Sukuk

The International Islamic Liquidity Management Corporation (IILM) announced its successful completion of the auction pertaining to the reissuance of an aggregate of USD 1.40 billion in short-term Sukuk. The transaction includes USD 400 million carrying a 1-month tenure at a profit rate of 0.35%, USD 500 million with a 3-month tenure and a profit rate of 0.33%, as well as USD 500 million with a 6-month tenure at 0.40% profit.

Why it matters?

According to Dr Umar Oseni, Chief Executive of the IILM, the auction completed another milestone for the IILM, given that this represented the highest ever issuance since its inception. Dr Oseni expressed appreciation for the support from the IILM’s network of primary dealers (particularly those based in the...