JEDDAH, SAUDI ARABIA: The Islamic Corporation for the Development of the Private Sector (ICD) and Ak Finansal Kiralama A.Ş. (AKLease) have entered a landmark agreement to bolster economic growth in Türkiye. This new EUR 13.65 million Commodity Murabaha Facility is designed to support private sector projects, focusing on small and medium-sized enterprises (SMEs).

This strategic partnership highlights ICD’s dedication to fostering private sector development within its member countries. The facility provided by ICD will enable AKLease to fund a range of private sector projects, empowering entrepreneurs to launch and scale ventures that will significantly impact Türkiye’s economy.

AKLease, a subsidiary of Akbank and a prominent player in Türkiye’s financial leasing market, will leverage this facility to extend financial support to eligible projects. The collaboration is a testament to AKLease’s commitment to driving national development through innovative and long-term leasing solutions.

Key Highlights of the Agreement:

• Funding Amount: EUR 13.65 Million
• Target Sector: Private sector projects, especially SMEs
• Objective: Enhance the SME landscape in Türkiye by providing essential resources for business growth and development
• Strategic Alignment: Supports ICD’s Private Sector Channel Development Strategy

The agreement underscores the critical role of private-sector financing in economic development. The initiative will help bridge funding gaps for SMEs by facilitating access to financial resources, driving innovation and fostering a more robust and diverse economy.

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