Türkiye Wealth Fund (TWF) has signed a landmark $600 million five-year murabaha financing deal with a consortium of banks led by Kuwait Finance House (KFH). The unsecured agreement, concluded without collateral or state guarantees, reflects TWF’s strong credit standing and trusted position in global markets.

The deal marks another strategic step in TWF’s mission to deepen and diversify Türkiye’s capital markets while expanding the country’s presence in the fast-growing global Islamic finance sector, valued at around $5 trillion. Murabaha, a widely used Shariah-compliant structure, allows financing through a cost-plus model that avoids interest, in line with Islamic banking principles.

Under the leadership of President Recep Tayyip Erdoğan, TWF has been actively leveraging Islamic finance tools, including sukuk and murabaha, alongside initiatives such as participation-based insurance and the Istanbul Financial Center. With this latest transaction, the Fund’s total Islamic financing volume now exceeds $1.8 billion.

Beyond boosting Türkiye’s funding sources, the agreement strengthens financial ties between Türkiye and Kuwait, underscoring both nations’ growing cooperation in interest-free financial instruments and long-term investment partnerships.