By Sunday Elijah,
Small and medium-sized enterprises (SMEs) in Türkiye are set to benefit from a new €20 million Shariah-compliant financing facility. The funding, arranged by the Islamic Corporation for the Development of the Private Sector (ICD) through Ak Finansal Kiralama A.Ş. (AKLease), will support SMEs by providing accessible leasing solutions to help grow their businesses.
The three-year Commodity Murabaha facility was structured by ICD as Mandated Lead Arranger, Bookrunner, and Investment Agent, with Al Salam Bank B.S.C. joining as Joint Lead Arranger.
Dr. Khalid Khalafalla, Acting CEO of ICD, emphasized the importance of SMEs in driving economic growth. “Our goal with this facility is to empower SMEs and corporates, which are the backbone of Türkiye’s private sector, by giving them access to Shariah-compliant financial solutions,” he said.
Eser Okyay, General Manager of AKLease, added, “AKLease is committed to supporting Turkish businesses and strengthening their competitiveness. This partnership with ICD will help SMEs access the financial resources they need to expand and innovate.”
ICD, the private sector arm of the Islamic Development Bank (IsDB) Group, continues to promote economic development across its member countries by offering Shariah-compliant financing solutions tailored to the needs of private enterprises.
