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International Islamic Liquidity Management Corporation
What is FDR and how does the IILM FDR work?
- FDR means Fusang Depository Receipt and it is created by referencing to the American Depository Receipt mechanism. FDRs are tokens that directly represent assets held by the Depository on behalf of token holders.
- FDRs represent direct legal claims on the underlying assets, and can be redeemed back into the underlying assets if investors want.
- Tokenised sukuk (i.e. IILM FDR) have the same legal and financial features as the underlying sukuk (in this case, the IILM underlying sukuk), and are themselves shariah-compliant securities. Fusang has obtained its own Shariah pronouncement for the tokenisation of the sukuk.
- IILM FDR is listed for secondary market trading on Fusang Exchange.
- IILM FDR can be transferred between the regulated financial institutions who are participating Members of the Fusang Exchange.
- Upon maturity of the underlying sukuk, IILM FDR holders will be paid out in USD via their subscribing broker.
What is IILM?
International Islamic Liquidity Management Corporation ("IILM") is an international organisation established by 8 central banks and a multilateral organisation to create and issue shariah-compliant sukuk to fulfil its mandate to facilitate effective cross-border Islamic liquidity management.
Steadfast backing by central banks: Current shareholders of IILM comprise the central banks of Indonesia, Malaysia, Mauritius, Qatar, Nigeria, Turkey, Kuwait, U.A.E., and the multi-lateral organisation, Islamic Corporation for the Development of the Private Sector.
For more information on the IILM and its Sukuk issuances, please refer to the IILM's website www.iilm.com.
Features of IILM Sukuk
Disclaimer: The International Islamic Liquidity Management Corporation (the “IILM”) is not in any way affiliated with Fusang nor any of its affiliates, parent(s) or subsidiaries. Any references to the IILM are not intended to indicate participation, expressly or implicitly, on the part of the IILM or any of its shareholders, in this tokenisation exercise.The information on this webpage is for information purposes and is not intended for distribution to anyone in any jurisdiction where such distribution is not authorised or unlawful. The information is not a solicitation, invitation, or offer by Fusang Corp (FSC) or any of its affiliates to enter into any form of investment, financial, or business relationship. This webpage is intended only for Accredited, Professional, Sophisticated or Institutional Investors. No warranty or representation, whether express or implied, is made by FSC, or any of its affiliates as to its accuracy, validity, timeliness and completeness. Further, we expressly disclaim liability for any errors or omissions. Past performance is not always an indication to future performance. The value of investment may vary according to market conditions, and there is no assurance that the loss of original capital may not occur. The information does not purport to provide all of the information the recipient may require in order to evaluate any investment. Any interested party should take appropriate independent advice. The products, services and any applicable terms mentioned herein are subject to modification and update from time to time without notice. No part of the information may be copied, transmitted, distributed, published and circulated without prior written consent from FSC.This website contains link(s) to third- party websites, which link(s) is/are provided for informational purposes only. Any financial information provided in relation to such third party websites is not to be construed as financial advice. Accordingly, before taking any actions based upon such information, please consult with the appropriate professionals. Neither Fusang nor such third-party website give any assurances, representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information including any part thereof, or other content or service that may be accessible or available directly or indirectly on such third-party websites. Under no circumstance shall Fusang or such third parties have any liability for any loss or damage of any kind incurred because of the use of the third-party website or reliance on any information provided thereon. Your use of the third-party website and your reliance on any information on the third-party website is solely at your own risk. For the avoidance of doubt, Fusang does not receive any fees or commission or any other consideration from such third-party website.