Emlak Issues Its First Sukuk Worth TRY 200 Million 

Emlak Participation Bank (Emlak) of Turkey has issued its first ever lease certificate (Sukuk) worth TRY 200 million, within the scope of its issue ceiling amounting to TRY 2 billion that was received from the Capital Markets Board (CMB) on the 26th of March 2020.

According to Emlak, the Sukuk has been issued to increase the diversity among its resources. The 63-day term Sukuk was auctioned on the 28th and 29th of April 2020, without the involvement of any intermediary. The Sukuk attracted more demand than the planned issuance amount and given this success, Emlak has plans to issue Sukuk totalling TRY 1 billion by the end of 2020, according to local media reports.

Nevzat Bayraktar, t...