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.
09-05-2014, 02:42 AM
Islamic finance body IILM eyes wider membership -CEO
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