2 days ago
Turkey's wealth fund secures $600mln financing facility with KFH-led consortium
Turkey's (Türkiye) sovereign wealth fund has secured a $600 million murabaha financing agreement with a consortium of banks led by Kuwait Finance House (KFH), Kuwait's first Islamic bank.
The facility has a five-year maturity, concluded on an unsecured basis, and requiring no collateral or guarantees.
With this latest transaction, Türkiye Wealth Fund's (TWF) total funding raised through Islamic finance instruments has now surpassed $1.8 billion.
TWF said the agreement reinforces financial cooperation between Türkiye and Kuwait and expands its funding sources in global markets.
The wealth fund, with more than $240 billion in assets under management, has been securing deals with GCC lenders over recent months.
In March, TWF secured €1.1 billion ($1.2 billion) in a two-year syndicated loan backed by 20 banks from 12 countries, including several UAE lenders.
(Writing by Bindu Rai, editing by Brinda Darasha)
