GOLDEN GLOBAL INVESTMENT BANK ACHIEVES MAJOR MILESTONE!

GOLDEN GLOBAL INVESTMENT BANK 

JOINS THE GLOBAL “PRIMARY DEALER” BANKS

OF THE IILM SUKUK PROGRAMME 

Golden Global Investment Bank became one of the worldwide “Primary Dealer” banks of The International Islamic Liquidity Management Corporation (IILM) Short-Term Sukuk Certificate Programme co-founded by, among others, the Central Bank of the Republic of Türkiye.  

The signing ceremony, held in Istanbul, followed opening remarks by Mohamad Safri Shahul Hamid, CEO of IILM, and Yavuz Yeter, General Manager of Golden Global Investment Bank.

Golden Global Investment Bank, established in 2019 with Islamic finance principles, became the 13^th “Primary Dealer” bank of IILM worldwide, which is supported by a coalition of eight central banks—representing Türkiye, Indonesia, Kuwait, Malaysia, Nigeria, Qatar, the UAE, and Mauritius—alongside the Islamic Corporation for the Development of the Private Sector (ICD).

Headquartered in Kuala Lumpur, IILM is a trailblazing institution to address systemic cross-border liquidity challenges in Islamic finance. By providing Shariah-compliant short-term instruments, IILM delivers transformative liquidity management solutions that empower financial institutions.

“GOLDEN GLOBAL INVESTMENT BANK IS A LEADING INVESTMENT BANK THAT WILL ADD VALUE TO EXPANDING OUR REACH IN ISLAMIC FINANCE SECTOR” stated Mohamad Safri Shahul Hamid, CEO of IILM.

"We are extremely delighted and honoured to welcome Golden Global Investment Bank to the IILM family," said Mohamad Safri Shahul Hamid, CEO of IILM, speaking at the ceremony. "This partnership is part of our commitment to supporting effective liquidity management in global Islamic financial markets, and Turkiye 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 solidfy 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.

WE WILL CONTINUE TO PIONEER INNOVATIONS IN THE ISLAMIC FINANCE LANSCAPE

In remarks concerning Golden Global Investment Bank's participation in the global IILM Sukuk Program, Yavuz Yeter, General Manager of Golden Global Investment Bank, emphasized 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 bank 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 sukuk 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."

As part of its core mandate, the IILM has been issuing Islamic short-term asset-backed commercial papers (ABCP) certificates (short-term sukuk) with tenors ranging from 2 weeks to 12 months, out of its USD 6 billion short-term sukuk programme, rated A-1 by S&P and F1 by Fitch, respectively. The short-term sukuk are backed by long-term sukuk assets issued by sovereigns, sovereign-linked and supranational credits rated at least A by S&P and Fitch, respectively.

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 has adopted a new generation banking approach, prioritizing 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.

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.