Türkiye's top telecoms operator and technology major, Turkcell, has secured $150 million in Murabaha financing from Dubai Islamic Bank (DIB), a prominent bank in the Gulf region, the company announced on Monday.
According to the statement made by the company, it signed a strategic financing agreement to support its long-term growth targets by strengthening its infrastructure investments.
"Our priority is to bring the most innovative technologies to our country and provide our customers with the highest quality service. This transaction, which is based on interest-free Murabaha principles, will accelerate our infrastructure investments and serve as a significant resource to support our long-term growth objectives. It also demonstrates the strong investor appetite for Turkcell in the Gulf region," said Turkcell CEO Ali Taha Koç.
The signing of the agreement was held in Istanbul and was attended by Koç, Turkcell CFO Kamil Kalyon, Dubai Islamic Bank's Group CEO Dr. Adnan Chilwan and the Bank's Chief of Investment Banking Ali Ahmad.
This deal broadened Turkcell's investor base and enhanced its debt portfolio through diversified financing instruments. By leveraging both conventional and Islamic financing, as well as international and local bond issuances, development bank loans, export credit agency facilities and sustainability-linked financing, Turkcell strengthens its financial foundation.
In his speech at the signing ceremony, Koç said: "Turkcell is in an investment phase, focusing on strategic areas such as data centers, cloud technologies, and renewable energy while continuing to strengthen its core telecommunication services, including mobile and fixed broadband."
"This strategic five-year bullet structure financing opens doors to new Gulf-based investors and reinforces our commitment to sustainable and diversified growth. The Murabaha structure, based on interest-free financing principles, not only highlights Turkcell's global credibility but also serves as a gateway to future strategic partnerships across the Gulf region. As Turkcell accelerates its investments in next-generation technologies, this agreement is a key pillar of its ongoing mission to deliver value for stakeholders and shape Turkcell's digital future," he added.
Chilwan, for his part, said they were "delighted to have closed another deal from a GCC bank today via a $150 million Murabaha financing facility."
"I am confident we will continue to build a strong partnership with more landmark transactions for Turkcell," he said.
