IILM secondary market success may depend on time elapsed before its second sukuk

The inaugural IILM sukuk issuance is important for the Islamic finance industry, but that body’s second sukuk may be more important in signaling to the market the total outstanding amount of sukuk to anticipate.  Providing the market—and market makers in particular—with confidence that the IILM will not just be a one-off or occasional issuer will provide more support when making their decision about how actively to participate in developing liquid secondary markets, which will be a key factor for the success of the IILM sukuk. 

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