The Islamic Corporation for the Development of the Private Sector (ICD) has arranged a EUR 20 million Shariah-compliant medium-term financing facility for Ak Finansal Kiralama A.Ş. (AKLease), aiming to help small and medium-sized enterprises (SMEs) and private sector businesses in Türkiye grow.
The three-year Commodity Murabaha facility was structured to provide companies with the resources they need to expand their operations, innovate, and strengthen competitiveness. ICD served as Mandated Lead Arranger, Bookrunner, and Investment Agent, with Al Salam Bank B.S.C. joining as a Joint Lead Arranger.
“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,” said Dr. Khalid Khalafalla, Acting CEO of ICD.
For AKLease, the facility represents a continuation of its mission to support Turkish businesses and drive private sector growth.
“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,” said Eser Okyay, General Manager of AKLease.
Founded in 1988 as a subsidiary of Akbank, AKLease provides financial leasing across industries including manufacturing, construction, transportation, energy, and healthcare. The company is also known for its ECOLease product, Türkiye’s first sustainability-focused leasing solution, supporting environmentally friendly investments.
ICD, part of the Islamic Development Bank Group, aims to expand Shariah-compliant financial solutions and foster private sector growth in its 56 member countries. With an authorized capital of $4 billion, ICD is rated A2 by Moody’s, A+ by Fitch, and A by S&P.
This facility marks the first Shariah-compliant medium-term syndicated financing for AKLease and reflects a growing focus on supporting SMEs, innovation, and sustainable economic development in Türkiye.
