Türkiye-based telecom giant Turkcell has secured a $150 million Shariah-compliant Murabaha financing facility from Dubai Islamic Bank PJSC to support its ongoing infrastructure projects and diversify its funding sources. The five-year agreement, signed in Istanbul, will finance investments in digital infrastructure, including data centers, cloud services, and renewable energy initiatives.
This financing deal forms part of Turkcell’s broader strategy to expand its access to Islamic capital markets while balancing its debt portfolio with a mix of conventional and Islamic financial instruments from both local and international lenders.
Turkcell has been engaging with multiple regional investors since last year, and this recent partnership with Dubai Islamic Bank further strengthens its ties with Gulf-based financiers. The Murabaha facility complements Turkcell’s existing funding, which includes loans backed by export credit agencies, development finance, and sukuk issuances.
The transaction reflects growing investor interest in Türkiye from Gulf banks, with Dubai Islamic Bank highlighting Türkiye as a key market within its cross-border investment plans.
Listed on both the New York Stock Exchange and Borsa Istanbul, Turkcell is advancing a multi-year capital expenditure program focused on enhancing its digital and telecommunications infrastructure to meet future market demands.
