IsDB and Turk Eximbank Sign USD 100 Million Murabahah Deal to Finance SMEs

The Islamic Development Bank (IsDB) and Turk Eximbank have signed a syndicated Murabahah interest-free USD 100 million agreement to help provide funds to small and medium-sized enterprises (SMEs) and middle capitalization companies (MidCaps) in Turkey.

According to the IsDB, the Murabahah deal has a tenure of ten years, which will help support the sustainable development of Turkey.

The IsDB noted that the Murabahah facility is based on the success of the previous USD 270 million financing support which the IsDB had extended to firms in Turkey through Turk Eximbank. 57 firms, including 18 SMEs benefitted from the funding, while 39 firms saw an increase in workforce. This round of financ...