The International Islamic Trade Finance Corporation (ITFC) has signed a EUR 20 million Murabaha Agreement with Albaraka Türk Katılım Bankası A.Ş., a pioneer of participation banking in Türkiye. The facility expands access to Shariah-compliant trade finance solutions for Türkiye’s private sector clients - particularly small and medium-sized enterprises (SMEs) – to support import needs and pre-export transactions of essential goods and commodities, reinforcing ITFC’s commitment to inclusive and sustainable private-sector growth in Türkiye.  

Commenting on the agreement, Mr. Abdihamid Abu, General Manager, Trade Finance at ITFC, said: “Through our strategic partnership with Albaraka Türk, this agreement aligns with Türkiye’s priorities on SME development and export growth and with ITFC’s mandate to scale Shariah-compliant trade finance—empowering businesses to compete and create jobs.”

From his end, Mr. Serhan Yıldırım, EVP for Treasury and International Banking at Albaraka Türk Katılım Bankası, commented: “We are delighted to strengthen our long-standing partnership with ITFC through this Murabaha financing agreement. This facility will enable us to better serve our clients, particularly SMEs, by providing greater access to Shariah-compliant trade finance solutions. Moreover, this facility represents the initial step of a broader collaboration for additional financing transactions that both parties may agree to pursue in the upcoming period. Supporting Türkiye’s private sector and enhancing trade are at the core of our mission, and this collaboration reflects our shared vision of sustainable growth and economic development.”

This agreement is aligned with ITFC’s broader strategy in Türkiye, where the Corporation has committed significant resources to empowering the private sector through targeted trade finance and capacity-building initiatives.  

About the International Trade Finance Corporation (ITFC)  

The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$80 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market. 

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