Malaysia-based International
Islamic Liquidity Management Corp (IILM) hopes to widen its
membership base as it seeks feedback from the market on its
Islamic bond issuance programme, its top executive said. The
IILM launched its short-term sukuk programme in August last year, aiming to meet a shortage of highly liquid, investment-grade financial instruments which
Islamic banks can use to manage their short-term funding needs. "**w that
IILM has issued, it can attract new members and it will attempt to," chief executive Rifaat Ahmed Abdel Karim told Reuters on the sidelines of the Global
Islamic finance Forum. The
IILM is a consortium of central banks and monetary agencies from Indonesia, Kuwait, Luxembourg, Mauritius, Qatar, Malaysia, Nigeria, Turkey and the United Arab Emirates, as well as the Jeddah-based
Islamic Development Bank.
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