ICD successfully closed the first ever Shariah-compliant medium-term syndicated financing facility for AKLease

The Islamic Corporation for the Development of the Private Sector (“ICD”), 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.