- Turkcell (TKC, Financial) has secured €100 million in murabaha financing from Emirates NBD Bank to expand its data center business.
- The financing will support Turkcell's strategy for high-capacity, eco-friendly data centers aligning with national digitalization goals.
- This agreement strengthens Turkcell's financial strategy, emphasizing Gulf region collaborations and diversifying its financial portfolio.
Turkcell (TKC), a prominent telecommunications company, announced a strategic financial agreement with Emirates NBD Bank, securing €100 million in murabaha financing for its subsidiary, TDC Veri Hizmetleri (TDC). This five-year agreement aims to bolster Turkcell Group’s data center investments, accelerate digital infrastructure projects, and align with long-term strategic growth objectives.
The financing agreement, rooted in Islamic finance principles, marks a pivotal step for TDC by enhancing its role in the data center and cloud business sectors. Turkcell's expansion strategy focuses on establishing high-capacity, environmentally friendly data centers to support the increasing demands for cloud computing, artificial intelligence (AI), and big data. This aligns with Turkey's national goals for digitalization, enabling local businesses while attracting global clientele seeking secure, scalable digital solutions.
Kamil Kalyon, Chief Financial Officer at Turkcell, emphasized the importance of this investment in attracting international capital and forming strategic partnerships, underscoring the company's commitment to growth and global investment opportunities. Pri McNair, Group Co-Head of Corporate Coverage at Emirates NBD, highlighted that the financing reflects confident support for Turkcell's digital transformation initiatives, further establishing Emirates NBD as a partner in sustainable growth endeavors.
This murabaha financing model not only diversifies Turkcell’s financing sources but also strengthens the company's strategic outreach in the Gulf region, setting the stage for future collaborations and strengthening Turkcell’s role as a trusted entity in the global finance community.
