Wednesday, June 16, 2021

Emefiele leads International Islamic Liquidity Management Corporation

Headline

tiamin rice

The governor of Central Bank of Nigeria, CBN, Godwin Emefiele, has been elected the chairman of the International Islamic Liquidity Management Corporation, IILM.

The acting director of Corporate Communications of the CBN,

The governor of Central Bank of Nigeria, CBN, Godwin Emefiele, has been elected as the Chairman of the International Islamic Liquidity Management Corporation, IILM.

The acting director of Corporate Communications of the CBN,  Isaac Okorafor, announced this in a statement on Friday in Abuja.

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The statement said by this development, Emefiele had also become the Head of the General Assembly of the financial body, comprising nine countries and Islamic Development Bank.

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IILM was established by central banks, monetary authorities and multilateral organisations to create and issue short-term Shari’ah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

By creating more liquid Shari’ah-compliant financial markets for institutions offering Islamic Financial Services, IIFS, the IILM aims to enhance cross-border investment flows, international linkages and financial stability.

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Its current shareholders comprised central banks and monetary authorities of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic Development Bank.

, announced this in a statement on Friday in Abuja.

The statement said by this development, Emefiele had also become the Head of the General Assembly of the financial body, comprising nine countries and Islamic Development Bank.

IILM was established by central banks, monetary authorities and multilateral organisations to create and issue short-term Shari’ah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

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By creating more liquid Shari’ah-compliant financial markets for institutions offering Islamic Financial Services, IIFS, the IILM aims to enhance cross-border investment flows, international linkages and financial stability.

Its current shareholders comprised central banks and monetary authorities of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic Development Bank.

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