The Islamic Corporation for the Development of the Private Sector (ICD) successfully closed the first ever Shariah-compliant medium-term syndicated financing facility for AKLease to boost leasing to Small and Medium Enterprises (SMEs) and private sector growth in Türkiye
The Islamic Corporation for the Development of the Private Sector (“ICD”) (https://ICD-PS.org), the private sector arm of the Islamic Development Bank (“IsDB”) Group, is pleased to announce the successful closure of a EUR 20 million Shariah-compliant medium-term syndicated financing facility for Ak Finansal Kiralama A.Ş. (“AKLease”), a leading leasing company in Türkiye.
This partnership aims to boost leasing activities and support private sector businesses in Türkiye, by providing financing solutions to empower corporates and SMEs.
The 3-year Commodity Murabaha facility was arranged by ICD as the Mandated Lead Arranger, Bookrunner, and Investment Agent, with Al Salam Bank B.S.C. joining as a Joint Lead Arranger.
Dr. Khalid Khalafalla, Acting CEO of ICD, stated: “ICD is proud to launch a new medium-term facility dedicated to promoting economic development and expanding leasing in Türkiye. Our focus is on empowering private sector enterprises, particularly corporates and SMEs, that are catalysts for meaningful economic progress.”
Mr. Eser Okyay, General Manager of AKLease, also stated “AKLease is a key enabler of private sector growth and innovation in Türkiye. We remain committed to supporting Turkish businesses and strengthening their competitiveness. We consider ICD a strategic partner in this endeavor and look forward to continuing our cooperation in the future”
ICD is dedicated to expanding Shariah-compliant financial solutions across its member countries, reinforcing the global growth of Islamic finance.
Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).
Media Contact:
Islamic Corporation for the Development of the Private Sector (ICD)
Nabil Al-Alami
Manager, Communication&Corporate Marketing, ICD
Email: nalami@isdb.org
Ak Finansal Kiralama A.Ş. (AKLease)
Name: Neslihan Solmaz
Title: Corporate Communications Assistant Manager
Email: neslihan.solmaz@aklease.com
About Ak Finansal Kiralama A.Ş. (AKLease):
Established in 1988 as a subsidiary of Akbank, AKLease offers financial leasing solutions across various sectors, including manufacturing, construction, transportation, energy, and healthcare. Known for its commitment to sustainability, AKLease provides significant support to environmentally friendly investments through its unique ECOLease product, the first and only sustainability-themed offering in Türkiye’s leasing sector.
About the Islamic Corporation for the Development of the Private Sector (ICD):
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution that supports the economic development of its member countries. ICD is a member of the Islamic Development Bank (IsDB) Group with an authorized capital of $4 billion, ICD’s shareholders include the IsDB, 56 member countries, and five public financial institutions. ICD’s mandate is to promote the economic development of its member countries by financing and encouraging the establishment, expansion and modernization of private sector enterprises and projects in its member countries, promoting competition and entrepreneurship, and encouraging cross-border investments. The ICD is currently rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A’ by S&P.
For More information on ICD visit: https://ICD-PS.org.
