Key Saudi scholar returns to IILM sharia board

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By Bernardo Vizcai** April 2 (Reuters) - A prominent Islamic scholar from Saudi Arabia has rejoined the sharia supervisory board of the Malaysia-based International Islamic Liquidity Management Corp (IILM), according to the body's website. The return of Jeddah-based Mohamed Ali Elgari could increase the chances that Saudi Arabia's Islamic banks, which are some of the largest in Islamic finance, will access the IILM's $1.35 billion sukuk programme, boosting secondary market trading in the instruments. Elgari, an industry expert who sits on over 80 sharia boards around the world, was a member of the IILM's first sharia board an**unced in December 2010.

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