Analisis terhadap Aset Sandaran Alternatif bagi Penerbitan Sukuk Jangka Pendek oleh International Islamic Liquidity Management (IILM)
Analysis of Alternative Underlying Asset in Short Term Sukuk Issuance by International Islamic Liquidity Management (IILM)

Jabatan Shariah dan Pengurusan
Akademi Pengajian Islam
Universiti Malaya
50603 Kuala Lumpur, MALAYSIA.

najibahkhairiyah@gmail.com

Jabatan Shariah dan Pengurusan
Akademi Pengajian Islam
Universiti Malaya
50603 Kuala Lumpur, MALAYSIA.

zamann@um.edu.my

Abstract

Underlying asset is vital in sukuk issuance. However, physical underlying asset may not be sufficient to issue sukuk regularly. This article intends to analyse the alternative underlying assets for short-term sukuk issuance. A case study on short-term sukuk was conducted at a multilateral company known as the International Islamic Liquidity Management (IILM). By using the interview method, this research found that the usage of wakalah contract in the issuance of sukuk is the best way to reduce the usage of physical assets. Other alternatives which may be used to overcome the lack of the underlying assets is perhaps a light asset consists of air time and electricity tarif, private assets or micro financing or loose High Quality Liquid Asset (HQLA) term and conditions.

Keywords

International Islamic Liquidity Management (IILM); Islamic interbank money market; liquid instrument; short term sukuk IILM; underlying asset
https://doi.org/10.17576/pengurusan-2018-54-15

Citation

Shahabudin, N. K., & Noordin, K. (2018). Analisis terhadap Aset Sandaran Alternatif bagi Penerbitan Sukuk Jangka Pendek oleh International Islamic Liquidity Management (IILM). Jurnal Pengurusan, 54, 181–188. https://doi.org/10.17576/pengurusan-2018-54-15

@article{shahabudin2018analisis,
  title={Analisis terhadap Aset Sandaran Alternatif bagi Penerbitan Sukuk Jangka Pendek oleh International Islamic Liquidity Management (IILM)},
  author={Shahabudin, Najibah Khairiyah and Noordin, Kamaruzaman},
  journal={Jurnal Pengurusan},
 

volume={54},
  number={},
  pages={181—188},
  year={2018},
  doi={https://doi.org/10.17576/pengurusan-2018-54-15},
  publisher={Penerbit UKM},
}

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54 (2018) 181 – 188

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