09.04.2013 - IILM sukuk aims at creating cross-border liquidity instrument
After much speculation and expectation about a debut sukuk launch last April 6, the announcement in Doha by the Governing Council of the International Islamic Liquidity Management Corporation (IILM) that it was merely launching a sukuk program has turned out to be somewhat of an anti-climax. The expectation is now that the IILM will eventually issue its debut sukuk in the third quarter of 2013 – a $500 million issuance. Bankers have long past expressed their disappointment in the seeming inability of the IILM to get its act going since its establishment in October 2010 – that of issuing AAA-rated papers in a cross-border market to generate short-term liquidity management for the global Islamic finance industry...............................................Full Article: Source
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