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Türkiye’s state-owned export credit agency, Turk Eximbank, has secured a $145 million murabaha syndication facility coordinated by the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB).
The financing, structured in compliance with Islamic finance principles, aims to bolster the growth of export-oriented businesses in Türkiye’s private sector. The facility carries a maturity of three years.
According to a statement from Turk Eximbank on Friday, the syndication process was led by ICD, with participation from three prominent Islamic banks based in the Gulf region: Warba Bank K.P.S.C., Kuwait International Bank K.P.S.C., and Al Rayan Bank Q.P.S.C.
The transaction is designed to support the sustainable growth of Turkish exporters by providing access to Islamic funding mechanisms. The bank described the syndication as a reflection of strong cooperation among multilateral development finance institutions.
The ICD, alongside other leading Islamic financial entities, is working to ensure that resources are used effectively to foster private sector development across its member states.
Turk Eximbank General Manager Ali Guney emphasized the bank’s role in supporting Türkiye’s export-driven economic strategy. He stated that the institution is committed to meeting the financing needs of exporters and enhancing their competitiveness in global markets.
“This strategic partnership with the Islamic Corporation for the Development of the Private Sector is a key step toward achieving those goals,” he said. “We hope the secured funding will bring benefit to our country.”
Turk Eximbank is one of the key institutions supporting Türkiye’s foreign trade, having provided $24.1 billion in financing to 13,735 firms, according to data on its website.
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