The International Islamic Liquidity Management Corporation, the global organisation founded in 2010 by countries that practise Islamic finance, has created its first financing programme that issues shariah-compliant certificates.

The programme is valued at $500 million and was set up with the sole purpose of purchasing sovereign, sovereign-linked or supranational sukuk assets with long-term A-1 ratings. It will issue short-term shariah compliant certificates with maturity profiles of less than one year. According to Standard & Poor's, the IILM 2SA is "bankruptcy-remote," which means it will not be insolvent should its owner, IILM, declare insolvency. 

The IILM has 11 shareholders: Bank Indonesia, Central Bank of Kuwait, Banque centrale de Luxembourg, Bank Negara Malaysia, Bank of Mauritius, Central Bank of Nigeria, Qatar Central Bank, Central Bank of Turkey, Central of United Arab Emirates, Islamic Development Bank and SAMA. 

Saudi Arabia announced on 3 April 2013 that it is quitting IILM without providing a reason. Its share was taken up by the central banks of Qatar and Malaysia.