Golden Global Investment Bank joins the IILM's global network of Primary Dealers

Zawya

13-02-2025

Istanbul, Türkiye – The International Islamic Liquidity Management Corporation (IILM) proudly welcomes Türkiye's Golden Global Investment Bank as the latest banking institution to join the IILM's distinguished global network of Primary Dealers, to distribute the IILM's short-term Sukūk to qualified investors in Türkiye and globally.
Golden Global Investment Bank, Türkiye's first Shari'ah-compliant investment bank established in 2019, became the IILM's 13th global Primary Dealer.
During the ceremony between the IILM and Golden Global Investment Bank in Istanbul, Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: "We are extremely delighted and honoured to have and welcome Golden Global Investment Bank to the IILM family. This partnership is part of our commitment to supporting effective liquidity management in global Islamic financial markets, and Türkiye occupies a unique position as a bridge between Europe and Asia. The country's dynamic financial market and robust regulatory framework have created fertile ground for the growth of Islamic finance, and with Golden Global Investment Bank being part of the IILM's global network of Primary Dealers, this will certainly solidify the bank's presence in the global Islamic financial markets.'
'Being the latest Primary Dealer for the IILM's USD 6 billion Sukūk programme will unlock new opportunities for Turkish investors and institutions, enabling them to access high quality Islamic cross-border liquidity solutions. I am confident that with Golden Global Investment Bank's innovative vision, they will play an integral role in broadening the reach of the IILM's highly rated Islamic short-term papers to a wide range of investors, particularly in Türkiye and the surrounding regions. I look forward to this partnership that will be of tremendous value in the years to come,' Safri added.
In his remarks during the ceremony, Yavuz Yeter, General Manager of Golden Global Investment Bank, emphasised the bank's commitment to providing innovative and effective solutions compliant with Islamic finance principles to its expanding client portfolio.
"We are extremely proud to become a Primary Dealer for the IILM. This partnership will allow our bank to play a significant role in global Islamic financial markets, providing our clients with broader and more international opportunities. Golden Global Investment Bank continues to enhance its international collaborations and effectiveness based on a solid strategy. Our successful issuances of TRY, USD, and EUR Sukuk domestically and internationally throughout 2024 are a testament to this strategy.'
'In addition to our own funding needs, our bank will, in the coming period, address a significant need in the sector by facilitating domestic and international Sukūk issuances for our corporate clients. We aim to continue expanding our innovative Islamic banking practices, particularly in foreign trade and treasury products. Through this robust collaboration with the IILM, we will strengthen our presence in global Islamic financial markets and broaden the range of products we offer to our investors."
The IILM's short-term Sukῡk is currently distributed by a diversified and growing network of 12 primary dealers globally, namely Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Kuwait Finance House, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank.
The IILM's USD 6 billion short-term Ṣukūk programme is rated 'A-1' by S&P Global and 'F1' by Fitch Ratings, and the total amount of IILM Ṣukūk outstanding currently stands at USD 4.14 billion.
About the IILM
The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shari'ah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services (IIFS).
The current members of the IILM Governing Board are the central banks and monetary agencies of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector.
Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations.
The IILM is hosted by Malaysia and headquartered in Kuala Lumpur.
Media Enquiries:
The International Islamic Liquidity Management Corporation (IILM)
E: [e-mail]; [e-mail]
Website: http://www.iilm.com
Please follow us on social media for up-to-date information on the IILM:
Twitter : https://twitter.com/theiilm
Linked in : https://www.linkedin.com/company/theiilm
About Golden Global Investment Bank
Golden Global Investment Bank stands out as Türkiye's first investment bank dedicated to Islamic banking principles. Officially commencing operations in June 2020, Golden Global Investment Bank adopted a new generation banking approach, prioritising corporate banking and tailor-made financial solutions. The bank offers its clients a range of services, including investment banking (capital markets), corporate banking (investment and working capital loans, cash management, and international trade finance), and treasury products and services.
Golden Global Yatırım Bankası continued its strong growth in assets during the financial period of January 1 - September 30, 2024. Compared to year-end 2023, total assets has increased by 23% to TL 15.1 billion and equity of the bank has increased by 41% to TL 1.8 billion. As of January 1, 2024; JCR Eurasia Rating has affirmed Golden Global Investment Bank's creditworthiness by upgrading the Long-Term National Issuer Credit Rating from BBB- (tr) to A- (tr) within the high investment level category.