April 10 Malaysia-based International Islamic
Liquidity Management Corp (IILM) will reissue $860 million of
its three-month Islamic bond next week, after expanding its
issuance programme to $1.35 billion in January.
The auction of the three-month sukuk, rated A-1 by Standard
and Poor's, will be conducted on Apr. 17, according to a filing
lodged with Malaysia's central bank.
In February, the IILM sold $490 million worth of three-month
paper, designed to meet a shortage of highly liquid,
investment-grade financial instruments which Islamic banks can
trade to manage their short-term funding needs.
Shareholders of the IILM are the central banks of Indonesia,
Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey
and the United Arab Emirates, as well as the Jeddah-based
Islamic Development Bank.
(Reporting by Bernardo Vizcaino; Editing by Eric Meijer)