The Greater Istanbul Municipality has secured a $75 million and €20 million, 5-year joint financing deal. This landmark transaction, featuring a dual-compliant structure, marks the municipality's debut in the syndicated Islamic finance market, establishing a new benchmark for future funding. Emirates NBD served as the lead arranger for the facility signed on October 20, 2025.
Emirates NBD announced the successful arrangement of a joint financing facility of $75 million and €20 million for the Greater Istanbul Municipality. This 5-year facility marks the municipality's first entry into the syndicated Islamic finance market, setting a new precedent for its future financing. The financing has a dual structure compliant with both conventional and Sharia principles. The bank acted as the sole lead arranger and agent for the facility, which was signed on October 20, 2025.
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