Dubai – Mubasher: Dubai Islamic Bank (DIB) penned a $150 million Murabaha financing deal with Turkcell, Turkey’s leading telecommunications and technology services provider.
The five-year bullet-term facility will boost Turkcell’s investments in digital infrastructure, while backing DIB’s commitment to enabling growth in high-potential markets, according to a press release.
The Sharia-compliant financing will enable Turkcell to advance critical infrastructure in areas, including data centers, cloud technologies, and renewable energy.
Adnan Chilwan, Group CEO of DIB, commented: “We see Islamic finance as a bridge, one that supports real economies while remaining true to the principles of ethical finance. With this facility, we are supporting a business that understands the future: digital, decentralized, and inclusive essentially, a future that DIB fully believes in.”
The deal also bolsters financial and commercial connectivity between the UAE and Turkey, while offering Turkcell expanded access to Islamic financial mechanisms and structures.
Ali Taha Koç, CEO of Turkcell, said: “Partnering with a trusted institution like DIB, with its strong regional presence and deep-rooted values, brings both credibility and strategic alignment. This facility is not just timely— it lays a strong foundation for our growth journey in the years ahead.”
DIB logged 8% year-on-year (YoY) higher net profits at AED 1.79 billion in the first quarter (Q1) of 2025, compared to AED 1.66 billion.
