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Economic development

International Islamic Trade Finance Corporation Recognised for Innovative $150 million Murabaha Financing Facility

Strategic Insights

— 1 min read

The International Islamic Trade Finance Corporation (ITFC) has been awarded the GTR Best Deals of 2025 for its innovative $150 million Murabaha financing facility, designed to support Turkey's post-earthquake economic recovery. This Shariah-compliant financing facility was executed in partnership with the Ministry of Treasury and Finance of the Republic of Turkey, the Industrial Development Bank of Turkey (TSKB), and the Development and Investment Bank of Turkey (TKYB). The facility was developed in response to the devastating earthquakes that struck Turkey in February 2023, resulting in an estimated $100 billion in damages and disrupting over 220,000 businesses.

Key Takeaways:

  • The ITFC's $150 million Murabaha financing facility was the first Islamic trade finance facility designed for post-disaster recovery, supporting Turkey's post-earthquake economic recovery.
  • The facility delivered working capital support and laid the foundation for sustainable economic revival in key sectors including food security, agriculture, and trade.
  • The project has accelerated the adoption of Islamic trade finance solutions in Turkey's public sector, with TSKB and TKYB developing new Shariah-compliant frameworks with strategic impact across other sectors.
  • Sedef Aydas, Head of Department, Ministry of Treasury and Finance, Republic of Turkey, stated that ITFC is one of the first financing organizations showing its willingness to support Turkey's post-earthquake economic recovery.
  • The award was presented at the GTR Best Deals 2025 ceremony, where ITFC representatives alongside officials from the Ministry of Treasury and Finance of the Republic of Turkey and TSKB.
  • The partnership between ITFC, TSKB, and TKYB has opened new avenues for Islamic financing in Turkey's public sector, paving the way for future Murabaha-based financing from international players.

Statistics:

  • Estimated $100 billion in damages caused by the devastating earthquakes that struck Turkey in February 2023.
  • Over 220,000 businesses disrupted by the earthquakes.
  • $150 million Murabaha financing facility provided by ITFC.
  • 75 years of commitment to supporting sustainable and inclusive development by TSKB, as stated by Meral Murathan, Executive Vice President and Sustainability Leader.

Sources:

  • Global Trade Review (GTR) Best Deals of 2025 award winner.
  • International Islamic Trade Finance Corporation (ITFC) press release.
  • Ministry of Treasury and Finance, Republic of Turkey, official statement.
  • Industrial Development Bank of Turkey (TSKB) official statement.
  • Development and Investment Bank of Turkey (TKYB) official statement.

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