The International Islamic Trade Finance Corporation (ITFC) Signs EUR 15 million Master Murabaha Agreement to Support Türkiye's Private Sector

Zawya

a day ago

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a EUR 15 million Master Murabaha Agreement with Ak Finansal Kiralama A.Ş. (Aklease), one of Türkiye's leading leasing institutions and a subsidiary of AkBank.
The two-year facility aims to expand access to Shariah-compliant trade finance solutions for Türkiye's private sector, including small and medium-sized enterprises (SMEs), enabling the import and pre-export of essential goods and services. The partnership reflects ITFC's ongoing commitment to supporting economic development across member countries.
Commenting on this partnership, Mr. Nazeem Noordali, COO of ITFC, stated: 'This agreement underscores our long-term commitment to supporting Türkiye's private sector. By partnering with leading institutions such as Aklease, we are furthering ITFC's mandate to promote trade and foster economic growth.'
From his end, Mr. Eser Okyay, General Manager, AKLease, commented,"This partnership contributes to the development of innovative financing models in the leasing sector while also reinforcing our vision of providing resources for projects that prioritize sustainable development. This agreement, which marks ITFC's first contract signed with ITFC in Türkiye's leasing sector, brings a fresh perspective to the industry. We believe that this approach, which centers on sustainability, green financing, and accessibility for SMEs, offers a valuable alternative for the real sector."
This agreement is aligned with ITFC's broader strategy in Türkiye, where the Corporation has committed significant resources to supporting the private sector through targeted trade finance and capacity-building initiatives.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries' needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.