INDONESIA - MALASYA - THAILAND - Market Review

INDONESIA: The government will likely sell a global sukuk later than September, Rahmat Waluyanto, director general at the finance ministry’s debt management office, said in Jakarta. Indonesia doesn’t have urgent funding needs and is looking for the right timing for the sale because of global market conditions, Waluyanto said. The government will sell a “maximum” of $1 billion of Islamic bonds, Finance Minister Agus Martowardojo said Aug. 23.  (source)

MALAYSIA - FINANCE - IILM Chief: Main Challenge Is To Appreciate All Jurisdictions

JAKARTA, July 19 (Bernama) -- The main challenge now for the International Islamic Liquidity Management (IILM) Corporation, perhaps, is to find the most common denominator among the jurisdictions for the global Islamic finance market, said Chief Executive Officer Mahmoud AbuShamma.

"We have to appreciate the different jurisdictions. We have institutions from Asia, Middle East and others. That's the main challenge," he said. (source)

MARKETS - IILM takes a step closer to becoming a reality

The International Islamic Liquidity Management Corporation (IILM), which was launched in Kuala Lumpur in October, took a step closer to becoming a reality when its governing board last week appointed Mahmoud AbuShamma as its inaugural chief executive officer (CEO), for a three-year tenure effective Feb. 1, 2011.

AbuShamma’s tenure is also subject to the adoption by the Malaysian Parliament, the Dewan Rakyat, of a Special Enabling Act which would accord the IILM a special diplomatic status and its attendant privileges.