Turkish mobile operator Turkcell secures $150 million in Murabaha financing from Dubai Islamic Bank (DIB)
Turkcell Secures $150 Million Murabaha Financing from Dubai Islamic Bank
Istanbul, Turkey – Leading Turkish telecommunications company Turkcell has secured a $150 million financing facility from Dubai Islamic Bank (DIB) PJSC. This investment will accelerate the company's infrastructure investments and support its long-term growth objectives, according to Ali Taha Köç, Turkcell's CEO.
Köç expressed that this transaction demonstrates the strong investor appetite for Turkcell in the Gulf region. He stated that the company is currently investing in strategic areas, including data centers, cloud technologies, renewable energy, and strengthening its core telecommunication services, including mobile and fixed broadband. This strategic financing opens doors to new Gulf-based investors and reinforces Turkcell's commitment to sustainable and diversified growth.
The murabaha financing structure, which is an interest-free financing arrangement in line with Islamic banking principles, is seen by Köç as a recognition of Turkcell's global credibility and a gateway to potential future strategic partnerships across the Gulf region. Adnan Chilwan, DIB's group chief executive officer, acknowledged that Turkey is a key pillar of DIB's cross-border strategy, and it is delighted to support Turkcell in its growth plans.
It should be noted that Turkcell has recently secured a €100 million financing deal from Emirates NBD Bank, which is aimed at supporting its data center investments and digital infrastructure initiatives. This new financing from DIB represents a separate allocation intended to serve Turkcell's strategic objectives.
Turkcell operates in Turkey, Belarus, and Turkish Cyprus, and remains the only dual-listed company on the NYSE and BIST since July 2000.
Turkcell's securing of a $150 million murabaha financing from Dubai Islamic Bank falls under their strategic investments in the finance sector, as they aim to boost infrastructure investments and promote long-term growth. Furthermore, this transaction further demonstrates the company's tangible interest among investors, particularly in the Gulf region, thereby opening doors for new Gulf-based investors.
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