Business

The best sukuk issue of the year award goes to Emlak Katilim

The awards were given to their owners at the IFN Awards 2021, organized by Islamic Finance News, one of the leading publications in the financial markets. Emlak Katilim was awarded the best sukuk issuance of the year in the world on a sectoral basis by IFN, with Turkey’s first green sukuk issuance based on labor-capital partnership.

Realizing new sukuk (lease certificate) models, which have no precedent in Turkey and in the world, in order to contribute to the sustainable growth of the sector, Emlak Katilim was awarded the best sukuk issue of the year on a sectoral basis at the IFN Awards 2021, organized by Islamic Finance News. The Bank was able to win this award with the green sukuk issuance based on Turkey’s first labor-capital partnership.

BAYRAKTAR: WE FOCUS ON SUSTAINABILITY

Nevzat Bayraktar, General Manager of Emlak Katilim, said that they created financing models that support sustainable investments and consider social, ecological and economic criteria in the development of the country. “In order to combat the devastating effects of environmental disasters such as fire, flood and drought caused by climate change on economies and therefore financial markets, it is essential to develop the legal legislation of green/sustainable financing instruments in our country and to introduce some incentives to the sector in this context. The green sukuk structure we have developed with this awareness sets an example in terms of both serving this purpose and being a partnership-based sukuk structure that appeals to the core of the participation finance system. With our green sukuk issuance, we have contributed to the reduction of approximately two thousand tons of carbon emissions on an annual basis. We are also very happy that this important sukuk model has been crowned with the first prize by IFN. We will continue to offer innovative capital market instruments in line with the principles of participation finance and to increase the product range.”

Emlak Katilim continues to contribute to the development and growth of the sector by presenting its experience in the lease certificate product, one of the most important components of participation-based capital markets, to the market. In this context, on 24 December 2021, carrying out the Istanbul Financial Center Project, which is planned to contribute to the transformation of Istanbul into a global financial center TVF also mediated the issuance of IFM Inc. (IFM) Green Lease Certificate based on Turkey’s first Contract of Work, amounting to ₺600 million and with a maturity of 2 years.

Source: Sabah / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published.

Back to top button