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Turkcell, Türkiye’s leading mobile operator, signed a $150 million murabaha financing deal with Dubai Islamic Bank to support its long-term investment strategy, particularly in infrastructure, renewable energy, and digital technologies.
The murabaha financing—a form of Islamic finance funding that avoids interest by operating as a cost-plus-profit arrangement—will be provided over a five-year term.
According to a company statement, the agreement with Dubai Islamic Bank, one of the Gulf’s most prominent financial institutions, reflects Turkcell’s commitment to fortifying its financial structure by incorporating a wide array of instruments. These include both international and domestic bond issuances, credits from development banks, export credit agency-backed funding, and sustainability-linked financing.
The company highlighted that such a diversified financial strategy aims to enhance balance sheet efficiency, promote optimal resource use, and provide a solid foundation for long-term, sustainable expansion.
Speaking at the signing ceremony in Istanbul, Turkcell CEO Ali Taha Koc emphasized the importance of infrastructure investments in strategic areas such as data centers, cloud technologies, and renewable energy. He noted that these investments would continue without pause and stated, “This interest-free murabaha financing will serve as a critical source to accelerate our infrastructure investments and support our long-term growth objectives.”
Koc further described the agreement as a gateway to new collaborations with Gulf-based investors, saying, “The five-year murabaha financing with Dubai Islamic Bank not only opens doors to new partnerships in the region but also contributes significantly to our sustainable growth goals. Based on the principles of interest-free financing, this deal highlights Turkcell’s global credibility and represents a strategic step for building further alliances in the Gulf.”
Dubai Islamic Bank’s Group CEO Adnan Chilwan also commented on the agreement, expressing satisfaction with the successful conclusion of the deal. He stressed Türkiye’s significance within the bank’s global expansion strategy and welcomed the opportunity to contribute to Turkcell’s growth roadmap.
“We are pleased to support Turkcell’s development plans as part of our broader strategy in Türkiye. I am confident that this collaboration will pave the way for further agreements in the future,” Chilwan said.
Founded in 1994, Turkcell is a state-run telecommunications company in which the Türkiye Wealth Fund holds a majority stake of 26.2%. It is publicly traded on both the New York Stock Exchange (TKC) and Borsa Istanbul (TCELL), and stands as Türkiye’s largest telecom operator with a market capitalization of $5.55 billion.
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