The International Islamic Liquidity Management Corporation ( IILM ) has reissued short-term sukuk amounting to US$1.21 billion across five different tenors.

The sukuk were competitively priced at 3.85% for US$180 million for the two-week tenor; 3.90% for US$355 million for one month; 3.95% for US$540 million for three months; 3.85% for US$85 million for six months; and 3.85% for US$50 million for 12 months.

Demand was strong and broad-based, with robust participation from the IILM’s network of primary dealers alongside a diverse range of institutional investors across multiple jurisdictions. Total bids reached US$3.04 billion, translating into an average bid-to-cover ratio of 2.51 times, reflecting continued investor confidence in the IILM’s hiqh-quality,  short-dated Islamic instruments amid evolving global market conditions.

The transaction marks the IILM’s fourth sukuk auction year to date, bringing total issuances in 2026 to US$4.48 billion across 17 sukuk series of varying maturities. All issuances were conducted under the IILM’s US$8.5 billion short-term Sukuk Issuance Programme, rated “A-1” by S&P Global Ratings and “F1” by Fitch Ratings.

The sukuk were distributed by a diversified network of 16 primary dealers globally, namely Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Jaiz Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank.

The IILM is a regular issuer of short-term sukuk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services. It says it will continue to reissue its short-term liquidity instruments monthly as scheduled in its issuance calendar.