Latest news with #Murabaha
Mid East Info
27-05-2025
- Business
- Mid East Info
DIB Signs USD 150 Million Murabaha Deal with Turkcell to Accelerate Türkiye's Tech Transformation - Middle East Business News and Information
Facility to drive infrastructure growth and diversify capital access for Türkiye's leading digital operator Strategic deal reflects DIB's expanding role in financing real economies and enabling digital expansion Partnership aligns with DIB's mission to advance sustainable impact through Sharia-compliant financ Dubai, UAE –May 2025: DIB, the world's first Islamic bank and the largest in the UAE, has signed a USD 150 million Murabaha financing agreement with Turkcell, Türkiye's leading telecommunications and technology services provider. The facility will support Turkcell's ongoing investments in digital infrastructure and further reinforces DIB's commitment to enabling growth in high-potential markets. As one of the most prominent Islamic financial institutions in the GCC, the Bank continues to foster cross-border partnerships that drive sustainable, innovation-led development. Structured as a five-year bullet-term facility, the Sharia-compliant financing will enable Turkcell to advance critical infrastructure in areas such as data centres, cloud technologies, and renewable energy—further solidifying Turkcell's role as a leading force in Türkiye's evolving digital economy. Dr. Adnan Chilwan, Group Chief Executive Officer of DIB, commented: 'At DIB, we have long believed that banking goes beyond funding, we drive transformation. This partnership with Turkcell is not merely about leveraging our balance sheet; it is about enabling the organisation to unleash its true potential. Türkiye represents a market with vision, scale, and ambition, an economy investing heavily in the infrastructure of tomorrow, and a natural partner in our cross-border strategy.' Dr. Chilwan added: 'As the UAE's largest Islamic bank, our role increasingly lies in establishing and shaping meaningful connections between geographies, sectors, and the players within. We see Islamic finance as a bridge, one that supports real economies while remaining true to the principles of ethical finance. With this facility, we are supporting a business that understands the future: digital, decentralised, and inclusive essentially, a future that DIB fully believes in.' The deal also strengthens financial and commercial connectivity between the UAE and Türkiye, while offering Turkcell increased access to Islamic financial mechanisms and structures—particularly as it accelerates investment into strategic and sustainability-linked technologies. Dr. Ali Taha Koç, Chief Executive Officer of Turkcell, said: 'As Türkiye advances towards a more digital and data-driven economy, our focus remains on building the infrastructure that supports this evolution. Partnering with a trusted institution like DIB, with its strong regional presence and deep-rooted values, brings both credibility and strategic alignment. This facility is not just timely— it lays a strong foundation for our growth journey in the years ahead.' The agreement was formalised at a high-level signing ceremony in Istanbul, attended by senior leadership from both organisations, led by Dr. Adnan Chilwan and Dr. Ali Taha Koç. This agreement reflects DIB's strategic approach to financing the sectors and institutions shaping the next phase of economic growth. With a clear focus on long-term value, the Bank continues to enable real-world impact by backing businesses that are building the digital, sustainable, and resilient foundations of tomorrow's economies.
Al Bawaba
27-05-2025
- Business
- Al Bawaba
DIB Signs USD 150 Million Murabaha Deal with Turkcell to Accelerate Türkiye's Tech Transformation
DIB, the world's first Islamic bank and the largest in the UAE, has signed a USD 150 million Murabaha financing agreement with Turkcell, Türkiye's leading telecommunications and technology services provider. The facility will support Turkcell's ongoing investments in digital infrastructure and further reinforces DIB's commitment to enabling growth in high-potential markets. As one of the most prominent Islamic financial institutions in the GCC, the Bank continues to foster cross-border partnerships that drive sustainable, innovation-led as a five-year bullet-term facility, the Sharia-compliant financing will enable Turkcell to advance critical infrastructure in areas such as data centres, cloud technologies, and renewable energy—further solidifying Turkcell's role as a leading force in Türkiye's evolving digital Adnan Chilwan, Group Chief Executive Officer of DIB, commented: 'At DIB, we have long believed that banking goes beyond funding, we drive transformation. This partnership with Turkcell is not merely about leveraging our balance sheet; it is about enabling the organisation to unleash its true potential. Türkiye represents a market with vision, scale, and ambition, an economy investing heavily in the infrastructure of tomorrow, and a natural partner in our cross-border strategy.'Dr. Chilwan added: 'As the UAE's largest Islamic bank, our role increasingly lies in establishing and shaping meaningful connections between geographies, sectors, and the players within. We see Islamic finance as a bridge, one that supports real economies while remaining true to the principles of ethical finance. With this facility, we are supporting a business that understands the future: digital, decentralised, and inclusive essentially, a future that DIB fully believes in.'The deal also strengthens financial and commercial connectivity between the UAE and Türkiye, while offering Turkcell increased access to Islamic financial mechanisms and structures—particularly as it accelerates investment into strategic and sustainability-linked Ali Taha Koç, Chief Executive Officer of Turkcell, said: 'As Türkiye advances towards a more digital and data-driven economy, our focus remains on building the infrastructure that supports this evolution. Partnering with a trusted institution like DIB, with its strong regional presence and deep-rooted values, brings both credibility and strategic alignment. This facility is not just timely— it lays a strong foundation for our growth journey in the years ahead.'The agreement was formalised at a high-level signing ceremony in Istanbul, attended by senior leadership from both organisations, led by Dr. Adnan Chilwan and Dr. Ali Taha Koç. This agreement reflects DIB's strategic approach to financing the sectors and institutions shaping the next phase of economic growth. With a clear focus on long-term value, the Bank continues to enable real-world impact by backing businesses that are building the digital, sustainable, and resilient foundations of tomorrow's economies.
Yahoo
26-05-2025
- Business
- Yahoo
Turkcell Secures USD 150 Million Murabaha Financing From Dubai Islamic Bank PJSC to Accelerate Growth and Innovation
ISTANBUL, May 26, 2025--(BUSINESS WIRE)--Turkcell (NYSE: TKC) (BIST: TCELL), Türkiye's leading technology and communications company, has secured USD 150 million in Murabaha financing from Dubai Islamic Bank PJSC, a prominent bank in the Gulf region. At the signing ceremony, Turkcell Chief Executive Officer Dr. Ali Taha Koç stated: "Our goal and priority is to bring the most innovative technologies to our country and to provide the highest quality service to our customers. This transaction, which is based on interest-free Murabaha principles, will accelerate our infrastructure investments and serve as a significant resource to support our long-term growth objectives. It also demonstrates the strong investor appetite for Turkcell in the Gulf region." Turkcell has signed a landmark strategic financing agreement to bolster its infrastructure investments and support its long-term strategic growth objectives. This milestone deal broadens Turkcell's investor base and enhances its debt portfolio through a diversified range of financing instruments. By leveraging both conventional and Islamic financing, as well as international and local bond issuances, development bank loans, export credit agency facilities, and sustainability-linked financing, Turkcell strengthens its financial foundation. This diversified approach is essential for Turkcell's proactive balance sheet management, ensuring optimal resource utilization, enhancing financial resilience, and supporting long-term growth strategies. As part of the agreement reached with Dubai Islamic Bank PJSC, one of the Gulf region's leading financial institutions, Turkcell secured USD 150 million in Murabaha financing, in line with its commitment to diversifying funding sources. Turkcell CEO Dr. Ali Taha Koç, Turkcell CFO Kamil Kalyon, Dubai Islamic Bank's Group CEO Dr. Adnan Chilwan, and the Bank's Chief of Investment Banking Ali Ahmad attended the signing ceremony in Istanbul. "It will pave the way for new collaborations for Turkcell"In his speech at the signing ceremony, Turkcell Chief Executive Officer Dr. Ali Taha Koç said: "Turkcell is in an investment phase, focusing on strategic areas such as data centers, cloud technologies, and renewable energy while continuing to strengthen its core telecommunication services, including mobile and fixed broadband. This strategic five-year bullet structure financing opens doors to new Gulf-based investors and reinforces our commitment to sustainable and diversified growth. The Murabaha structure, based on interest-free financing principles, not only highlights Turkcell's global credibility but also serves as a gateway to future strategic partnerships across the Gulf region. As Turkcell accelerates its investments in next-generation technologies, this agreement is a key pillar of its ongoing mission to deliver value for stakeholders and shape Turkcell's digital future." Dubai Islamic Bank's Group Chief Executive Officer Dr. Adnan Chilwan commented at the signing ceremony: "We are delighted to have closed another deal from a GCC bank today via a USD 150 million Murabaha financing facility. Türkiye is a key pillar of DIB's cross border strategy, as a part of which DIB is delighted to have supported Türkiye's leading technology and communications company in its growth plans. I am confident we will continue to build a strong partnership with more landmark transactions for Turkcell." ABOUT TURKCELL: Turkcell is a technology and telecommunications company headquartered in Türkiye, offering a unique portfolio of voice, data, and IPTV services over its mobile and fixed networks along with digital consumer, enterprise, and techfin services. Turkcell Group operates in three countries: Türkiye, Belarus, and Northern Cyprus. Listed on both the NYSE and BIST since July 2000, Turkcell remains the only dual-listed company on these exchanges. Read more at View source version on Contacts +905322106020
Business Wire
26-05-2025
- Business
- Business Wire
Turkcell Secures USD 150 Million Murabaha Financing From Dubai Islamic Bank PJSC to Accelerate Growth and Innovation
ISTANBUL--(BUSINESS WIRE)--Turkcell (NYSE: TKC) (BIST: TCELL), Türkiye's leading technology and communications company, has secured USD 150 million in Murabaha financing from Dubai Islamic Bank PJSC, a prominent bank in the Gulf region. At the signing ceremony, Turkcell Chief Executive Officer Dr. Ali Taha Koç stated: "Our goal and priority is to bring the most innovative technologies to our country and to provide the highest quality service to our customers. This transaction, which is based on interest-free Murabaha principles, will accelerate our infrastructure investments and serve as a significant resource to support our long-term growth objectives. It also demonstrates the strong investor appetite for Turkcell in the Gulf region." Turkcell has signed a landmark strategic financing agreement to bolster its infrastructure investments and support its long-term strategic growth objectives. This milestone deal broadens Turkcell's investor base and enhances its debt portfolio through a diversified range of financing instruments. By leveraging both conventional and Islamic financing, as well as international and local bond issuances, development bank loans, export credit agency facilities, and sustainability-linked financing, Turkcell strengthens its financial foundation. This diversified approach is essential for Turkcell's proactive balance sheet management, ensuring optimal resource utilization, enhancing financial resilience, and supporting long-term growth strategies. As part of the agreement reached with Dubai Islamic Bank PJSC, one of the Gulf region's leading financial institutions, Turkcell secured USD 150 million in Murabaha financing, in line with its commitment to diversifying funding sources. Turkcell CEO Dr. Ali Taha Koç, Turkcell CFO Kamil Kalyon, Dubai Islamic Bank's Group CEO Dr. Adnan Chilwan, and the Bank's Chief of Investment Banking Ali Ahmad attended the signing ceremony in Istanbul. "It will pave the way for new collaborations for Turkcell" In his speech at the signing ceremony, Turkcell Chief Executive Officer Dr. Ali Taha Koç said: "Turkcell is in an investment phase, focusing on strategic areas such as data centers, cloud technologies, and renewable energy while continuing to strengthen its core telecommunication services, including mobile and fixed broadband. This strategic five-year bullet structure financing opens doors to new Gulf-based investors and reinforces our commitment to sustainable and diversified growth. The Murabaha structure, based on interest-free financing principles, not only highlights Turkcell's global credibility but also serves as a gateway to future strategic partnerships across the Gulf region. As Turkcell accelerates its investments in next-generation technologies, this agreement is a key pillar of its ongoing mission to deliver value for stakeholders and shape Turkcell's digital future." Dubai Islamic Bank's Group Chief Executive Officer Dr. Adnan Chilwan commented at the signing ceremony: "We are delighted to have closed another deal from a GCC bank today via a USD 150 million Murabaha financing facility. Türkiye is a key pillar of DIB's cross border strategy, as a part of which DIB is delighted to have supported Türkiye's leading technology and communications company in its growth plans. I am confident we will continue to build a strong partnership with more landmark transactions for Turkcell." Turkcell is a technology and telecommunications company headquartered in Türkiye, offering a unique portfolio of voice, data, and IPTV services over its mobile and fixed networks along with digital consumer, enterprise, and techfin services. Turkcell Group operates in three countries: Türkiye, Belarus, and Northern Cyprus. Listed on both the NYSE and BIST since July 2000, Turkcell remains the only dual-listed company on these exchanges. Read more at
Zawya
25-05-2025
- Business
- Zawya
ICIEC extends EUR 232mln insurance policy to Standard Chartered & others to support financing for Côte d'Ivoire's landmark Tour F Development
ALGIERS, Algeria -- The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) ( a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, today signed an endorsement to the Non‑Honoring of Sovereign Financial Obligation (NHSFO) insurance policy with Standard Chartered (Hong Kong) Limited and others. The endorsement supports an additional EUR 130 million Murabaha facility to the Ministry of Finance and Budget of the Republic of Côte d'Ivoire, building on the initial EUR 102 million previously insured by ICIEC. With this uplift, the total value of the insured Murabaha facility now stands at EUR 232 million. The endorsement policy was signed by Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, and Mr. Sujithav Sarangi, Executive Director, Development & Agency Finance at Standard Chartered. The signing took place on the sidelines of the 2025 IsDB Group Annual Meetings in Algiers. Under the arrangementment, ICIEC's NHSFO policy covers the participating financial institutions with robust credit enhancement. The proceeds will fund the construction of 'Tour F'- a flagship government office tower within Abidjan's new Administrative City, designed to modernize public‑sector infrastructure and improve public service delivery across Côte d'Ivoire. Dr. Khalid Khalafalla, CEO of ICIEC, said: 'This policy exemplifies how ICIEC's risk‑mitigation solutions unlock affordable, Shariah‑compliant capital for transformational public projects. Through this, ICIEC is supporting Côte d'Ivoire to realise a state‑of‑the‑art administrative hub that will boost efficiency, stimulate the local construction sector, and advance the country's development agenda in line with the UN SDGs.' Sujithav Sarangi, Executive Director, Development & Agency Finance, Standard Chartered says: 'This collaboration with ICIEC is testament to our shared commitments to impact and advancement. We are thrilled to combine our expertise, and continue our long-standing partnership, with ICIEC to support this significant development in Côte d'Ivoire.' Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). Contact: Email: ICIEC-Communication@ Follow us on: X: Facebook: LinkedIn: YouTube: Instagram: About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 50 Member States. ICIEC, for the 17th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, ICIEC has been assigned a First-Time 'AA-' long-term Issuer Credit Rating by S&P with Stable Outlook. ICIEC's resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors - energy, manufacturing, infrastructure, healthcare, and agriculture. For more information, visit: SOURCE: Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
