The International Islamic Liquidity Management Corporation, a cooperative institution set up by the Islamic Financial Services Board and supported by ten Islamic nation central banks, is set to issue an Islamic bond in the next six months.

The ILMC’s main objective is to develop short-term financial instruments to enable financial institutions to maintain liquidity in a Shariah-compliant fashion. In other words, this is a key effort in cutting off the Islamic world from the Western world in terms of short-term financing, thus compelling Western institutions to comply with the new Shariah standards…

Among the members of the IFSB are the following institutions from terrorist sponsoring nations:

• Al Jazeera Sudanese Jordanian Bank (Sudan)

• Al Rowad Financial Services Co. (Sudan)

• Al Salam Bank (Sudan)

• Animal Resources Bank (Sudan)

• Bank Eghtesad Novin (Iran)

• Bank Keshavarzi (Iran)

• Bank of Khartoum (Sudan)

• Bank Saderat Iran (Iran)

• Byblos Bank Africa Ltd (Sudan)

• Central Bank of Sudan (Sudan)

• Central Bank of Syria (Syria)

• Central Bank of the Islamic Republic of Iran (Iran)

• Faisal Islamic Bank (Sudan)

• Farmer’s Commercial Bank (Sudan)

• Industrial Development Bank (Sudan)

• Islamic Insurance Company (Sudan)

• Khartoum Stock Exchange (Sudan)

• Omdurman National Bank (Sudan)

• Securities and Exchange Organization (Iran)

• Shiekan Insurance and Reinsurance Co. Ltd (Sudan)

• Sudan Financial Services Company (Sudan)

• Sudanese Banks Association (Sudan)

• Sudanese French Bank (Sudan)

• Tadamon Islamic Bank (Sudan)

• The Insurance Supervisory Authority (Sudan)

• The National Pensions Fund (Sudan)

This is hardly surprising given that the IFSB’s council is made up of central bank governors, including the governors of the central banks of the three terrorist-sponsoring nations: Iran, Sudan and Syria:

H.E. Dr. Adib MayalehGovernor, Central Bank of Syria

H.E Dr. Mahmoud Bahmani, Governor, Central Bank of the Islamic Republic of Iran

H.E. Dr. Mohamed Khair Ahmed Elzubear, Governor, Central Bank of Sudan

 

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