Latest news with #SyndicatedFinancing
Zawya
3 days ago
- Business
- Zawya
The Islamic Corporation for the Development of the Private Sector (ICD) leads successful closure of USD 145 Million Shariah-Compliant Syndicated Facility for Turk Eximbank
The Islamic Corporation for the Development of the Private Sector ('ICD') ( a multilateral development financial institution and the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce the successful closure of USD 145 million Shariah compliant syndicated financing facility for Türkiye İhracat Kredi Bankası A.Ş. or Export Credit Bank of Türkiye A.S. ('Turk Eximbank'). The facility has been structured as a Commodity Murabaha with a tenor of 3 years. This partnership between the two institutions aims to boost export-oriented businesses and export of private sector businesses in Türkiye and provide Shariah-compliant financing solutions to support exporters. The syndicated financing facility was led by ICD as Mandated Lead Arranger and Bookrunner. ICD is also the Investment Agent of the facility. Three leading GCC-based Islamic banks participated in the facility. Warba Bank K.P.S.C. and Kuwait International Bank K.P.S.C. joined as Joint Lead Arrangers, whereas AlRayan Bank Q.P.S.C joined as Co-Lead Arranger. The ICD remains committed to develop Shariah compliant financial channels in member countries to promote Islamic finance. This syndicated financing facility demonstrates the strong relationship of ICD, a multilateral development financial institution, with other leading Islamic Financial Institutions, to mobilize resources toward the sustainable development of the private sector across its member countries. Dr. Khalid Khalafalla, Acting CEO of ICD, stated 'I am glad to announce this medium-term financing facility, which is designed to promote economic development and support Shariah-compliant export-oriented businesses in Türkiye. Through this initiative, we aim to empower private sector projects, particularly corporates and SMEs, those have meaningful developmental impact on the Turkish economy' Mr. Ali Güney, General Manager of Turk Eximbank also stated 'Turk Eximbank is one of the main enablers of government's export-led growth strategy and the largest development bank in Türkiye. We remain committed to support Turkish exporters and strengthening their global competitiveness. We consider ICD a strategic partner in this endeavor and look forward to continuing our cooperation in the future' Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD). For More Information: For further details, please contact: Telephone: +90 (216) 666 55 00 E-Mail: info@ Website: For More Information: For further details, please contact: Nabil El-Alami Communications&Corporate Marketing Division head Nalami@ Website: About Turk Eximbank: Turk Eximbank is the official export credit agency of the Republic of Türkiye and the leading provider of export finance in the country. Turk Eximbank is fully owned by the Republic of Türkiye Ministry of Treasury and Finance acting as the Turkish government's major export incentive instrument in Türkiye's sustainable export strategy. As Türkiye's official export credit agency, Turk Eximbank has been mandated to support foreign trade and Turkish contractors/investors operating overseas. About the Islamic Corporation for the Development of the Private Sector (ICD): ICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD's mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises. ICD is rated 'A2' by Moody's, 'A+' by Fitch, and 'A-' by S&P.
Zawya
3 days ago
- Business
- Zawya
ICD leads successful closure of $145mln Shariah-compliant syndicated facility for Turk Eximbank
Jeddah, KSA: The Islamic Corporation for the Development of the Private Sector ('ICD'), a multilateral development financial institution and the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce the successful closure of USD 145 million Shariah compliant syndicated financing facility for Türkiye İhracat Kredi Bankası A.Ş. or Export Credit Bank of Türkiye A.S. ('Turk Eximbank'). The facility has been structured as a Commodity Murabaha with a tenor of 3 years. This partnership between the two institutions aims to boost export-oriented businesses and export of private sector businesses in Türkiye and provide Shariah-compliant financing solutions to support exporters. The syndicated financing facility was led by ICD as Mandated Lead Arranger and Bookrunner. ICD is also the Investment Agent of the facility. Three leading GCC-based Islamic banks participated in the facility. Warba Bank K.P.S.C. and Kuwait International Bank K.P.S.C. joined as Joint Lead Arrangers, whereas AlRayan Bank Q.P.S.C joined as Co-Lead Arranger. The ICD remains committed to develop Shariah compliant financial channels in member countries to promote Islamic finance. This syndicated financing facility demonstrates the strong relationship of ICD, a multilateral development financial institution, with other leading Islamic Financial Institutions, to mobilize resources toward the sustainable development of the private sector across its member countries. Dr. Khalid Khalafalla, Acting CEO of ICD, stated 'I am glad to announce this medium-term financing facility, which is designed to promote economic development and support Shariah-compliant export-oriented businesses in Türkiye. Through this initiative, we aim to empower private sector projects, particularly corporates and SMEs, those have meaningful developmental impact on the Turkish economy' Mr. Ali Güney, General Manager of Turk Eximbank also stated 'Turk Eximbank is one of the main enablers of government's export-led growth strategy and the largest development bank in Türkiye. We remain committed to support Turkish exporters and strengthening their global competitiveness. We consider ICD a strategic partner in this endeavor and look forward to continuing our cooperation in the future' About Turk Eximbank Turk Eximbank is the official export credit agency of the Republic of Türkiye and the leading provider of export finance in the country. Turk Eximbank is fully owned by the Republic of Türkiye Ministry of Treasury and Finance acting as the Turkish government's major export incentive instrument in Türkiye's sustainable export strategy. As Türkiye's official export credit agency, Turk Eximbank has been mandated to support foreign trade and Turkish contractors/investors operating overseas. For More Information For further details, please contact: E-Mail: info@ Website: About the Islamic Corporation for the Development of the Private Sector (ICD) ICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD's mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises. ICD is rated 'A2' by Moody's, 'A+' by Fitch, and 'A-' by S&P. For More Information For further details, please contact: Nabil El-Alami, Communications & Corporate Marketing Division head, Nalami@ Website:
Al Bawaba
16-07-2025
- Business
- Al Bawaba
DIB Strengthens Global Agri-Financing with Participation in Landmark US$1.85 Billion Facility for Olam Agri
DIB, the world's first Islamic bank and the largest in the UAE, has announced its participation, alongside a group of international lenders, in a landmark US$1.85 billion syndicated dual-tranche financing facility extended to Olam Agri, a leading global acted as the Senior Mandated Lead Arranger and Investment Agent for the Islamic tranche, reinforcing its role as a leading provider of Shariah-compliant cross-border financing for high-impact sectors. The three-year facility will be used for general corporate purposes and reflects the continued growth of values-driven finance in global Agri is majority-owned by Singapore's Olam Group with a significant minority stake held by the Saudi Agricultural and Livestock Investment Company (SALIC), a wholly owned subsidiary of the Public Investment Fund (PIF). The company plays a critical role in enhancing food security and supply chain resilience across global transaction adds to DIB's growing portfolio of Islamic syndications across emerging sectors, demonstrating the bank's ability to channel Islamic capital into industries of global Ahmad, Chief of Investment Banking at DIB, commented: 'We are really pleased to have closed our first deal with Olam Agri. This transaction is a clear reflection of the growing global demand for Islamic liquidity — not as an alternative, but as a core instrument for financing the real economy. DIB's role in leading the Islamic tranche demonstrates our ability to bring structure, scale, and certainty to complex, cross-border mandates. Beyond its economic contributions, Agri-finance is essential to building resilient food systems and strengthening supply chains. By supporting this sector through a Shariah-compliant framework, we reinforce our belief that Islamic finance has a central role to play in addressing global sustainability challenges. This includes advancing inclusive economic growth, promoting responsible resource use, and fostering innovation across DIB, we view Islamic finance as a forward-driving force — one that is not just aligned with global capital markets, but actively shaping their future through values-led structures and real-economy outcomes.' The transaction also reflects DIB's commitment to supporting the United Nations Sustainable Development Goals (SDGs), particularly those focused on inclusive economic growth, sustainable infrastructure, and global partnerships. By financing companies that integrate sustainability and innovation into their core operations, DIB continues to advance its mission of enabling long-term, ethical impact through Islamic finance.
