Turkcell secures $150m Murabaha facility from Dubai Islamic Bank

Türkiye-based telecom operator Turkcell has secured a $150 million Shariah-compliant Murabaha financing facility from Dubai Islamic Bank PJSC to support its infrastructure projects and funding diversification strategy.

The five-year deal was signed in Istanbul and will be used to finance investment in digital infrastructure, including data centers, cloud services, and renewable energy, according to a company statement released on Monday.

The financing is part of Turkcell’s broader efforts to expand access to Islamic capital markets and diversify its debt portfolio. The company said it is utilising a mix of conventional and Islamic instruments, along with local and international debt sources.

Turkcell last year opened discussions with multiple regional investors, and the latest transaction with Dubai Islamic Bank adds to the company’s growing engagement with Gulf-based financiers. The Murabaha facility will also contribute to Turkcell’s existing funding base, which includes export credit agency-backed loans, development finance, and sukuk.

The deal comes amid increased investor interest in Türkiye from Gulf banks. Dubai Islamic Bank has identified Türkiye as a strategic market under its cross-border investment strategy.

Turkcell is listed on the New York Stock Exchange and Borsa Istanbul. The company is currently pursuing a multi-year capital expenditure plan focused on digital and telecommunications infrastructure.