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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