The meeting of the International Islamic Authority for Liquidity Management

The Board of Directors of the International Islamic Liquidity Management Authority held its 28th meeting in Abu Dhabi yesterday, headed by the Governor of the Central Bank of the Emirates, Chairman of the Board of Directors of the Authority, Khaled Muhammad Balama, in the presence of the governors of central banks and monetary institutions in the member states.

Balama said that the authority seeks to consolidate its position as a leading support center for the international Islamic finance sector, in light of the increasing global interest in Islamic financial services, at a time when we are proud to be an essential part of the infrastructure to support Sharia-compliant options for the global financial services market, and a base Growing for our investors.

He stressed that the authority will continue to provide short-term financial instruments that are compatible with the provisions of Islamic Sharia on a monthly basis in order to implement its tasks, and to embody its goals and future plans.

During the meeting, the Board reviewed the topics on its agenda, as it reviewed the reports of the work of the heads of committees in the authority that cover executive management, auditing, risk management, and compliance with the provisions of Islamic Sharia.

The International Islamic Liquidity Management Authority, which is a global institution established in 2010 by central banks and multilateral monetary and financial institutions, has regularly issued short-term sukuk, with varying periods of varying duration, in different amounts to meet the liquidity needs of institutions providing Islamic financial services.

During the past six months, it also issued short-term sukuk instruments to the market with a total value of $7.23 billion, with a monthly average of more than $1 billion, distributed over 19 series of sukuk, over varying periods ranging from one to six months.

Following the Board meeting, the Authority's General Assembly held its 12th meeting, during which it approved the audit proposals submitted by the Board of Directors.

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