IILM - International Islamic Liquidity Management Corporation

Background

Overview

The International Islamic Liquidity Management Corporation (IILM) is a unique global institution established on October 25, 2010, by central banks and a multilateral organization to create and issue Shari’ah-compliant financial instruments, facilitating effective cross-border Islamic liquidity management.

Mission and Vision

IILM's mission is to enhance the stability, resilience, and integration of the international Islamic financial system by providing high-quality, tradable short-term instruments that support liquidity management across jurisdictions, bridging markets, and enabling greater financial interconnectedness.

Primary Area of Focus

IILM focuses on issuing short-term Shari’ah-compliant financial instruments, specifically Sukūk, to address liquidity management challenges faced by institutions offering Islamic financial services (IIFS).

Industry Significance

As the world's leading issuer of Shari’ah-compliant short-term liquidity management instruments, IILM plays a critical role in enhancing the stability and integration of the international Islamic financial system.

Key Strategic Focus

Core Objectives

Facilitate cross-border liquidity management among IIFS by providing a variety of Shari’ah-compliant instruments on commercial terms to suit varying liquidity needs.

Foster regional and international cooperation to build robust liquidity management infrastructure at national, regional, and international levels.

Specific Areas of Specialization

Issuance of short-term Sukūk based on the Wakala structure.

Providing Shari’ah-compliant financial instruments for effective cross-border liquidity management.

Key Technologies Utilized

Utilization of the Wakala structure in Sukūk issuance.

Primary Markets or Conditions Targeted

Global markets requiring Shari’ah-compliant liquidity management solutions.

Financials and Funding

Funding History

IILM is established by central banks and a multilateral organization, indicating strong institutional backing.

Total Funds Raised

Specific details on total funds raised are not publicly disclosed.

Notable Investors

Central banks and monetary authorities of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, and the Islamic Corporation for the Development of the Private Sector (ICD).

Intended Utilization of Capital

Issuance of Shari’ah-compliant financial instruments to facilitate cross-border liquidity management.

Pipeline Development

Key Pipeline Candidates

Short-term Sukūk across various tenors, including one, three, six, and twelve months.

Stages of Clinical Trials or Product Development

Ongoing issuance and management of short-term Sukūk.

Target Conditions

Liquidity management needs of IIFS globally.

Relevant Timelines for Anticipated Milestones

Regular auctions and issuances throughout the year, with recent auctions in April 2026.

Technological Platform and Innovation

Proprietary Technologies

Wakala structure for Sukūk issuance.

Significant Scientific Methods

Structured financial instruments tailored for Shari’ah compliance.

AI-Driven Capabilities

Not specified.

Leadership Team

Key Executive Profiles

Mohamad Safri Shahul Hamid: Chief Executive Officer.

Hichem Bouqniss: Head of Business Operations and Executive Director.

Abdul Rafay, CFA: Chief Financial Officer.

Samer Babelli, MBA, CPA: Chief Risk Officer.

Firman Darwis, PhD: Chief Strategy Officer.

Ahmad Azrir Nordin: Head of Business Development.

Professional Backgrounds and Key Contributions

Detailed professional backgrounds and key contributions of the leadership team are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The global Islamic finance industry faces challenges such as limited Shari’ah-compliant instruments, inconsistent regulatory frameworks, and fragmentation.

Competitor Analysis