Vakif Katilim auctions lease certificates
Vakif Katilim Bankasi has issued domestic lease certificates amounting to TRY12 billion (US$1.47 billion) on the 27th October 2020. According to a bourse disclosure, the issuance conducted via its subsidiary Vakif Varlik Kiralama has a 120- day tenor with a maturity date set on the 24th February 2021.
Kuveyt Turk prints lease certificates
Kuveyt Turk Katilim Bankasi, through its asset leasing company KT Kira Sertifikalari Varlik Kiralama, has announced in a bourse filing the issuance of TRY8 billion (US$981.57 million)-worth of lease certificates with a maturity date set on the 29th January 2021.
Albaraka Turk sells domestic lease certificates
Albaraka Turk Katilim Bankasi via its subsidiary Bereket Varlik Kiralama Sirketi has issued domestic lease certificates worth a total of TRY15 billion (US$1.84 billion) on the 27th October 2020, according to a bourse filing. The certificates have a 45-day tenor and a maturity date set on the 11th December 2020.
Aktif Bank Sukuk Varlik Kiralama to issue Sukuk
Aktif Bank Sukuk Varlik Kiralama, a subsidiary of Aktif Bank, is planning to issue TRY50 million (US$6.38 million)- worth of lease certificates to qualified investors within the issuance ceiling of TRY1 billion (US$127.58 million), according to a bourse disclosure.
Turkey collects gold for lease certificates
The Ministry of Treasury and Finance of Turkey has collected 14,282 kilograms of gold (995/1000 purity) from institutional investors for gold-backed lease certificates valued on the 9th October 2020 with a maturity date set on the 8th October 2021, according to a statement.
Turkey completes legal infrastructure Turkey has on the 5th October 2020 completed a legal infrastructure on participation banks, in collaboration with the Banking Regulation and Supervision Agency and the Participation Banks Association of Turkey, to help participation banks provide services to their customers using interest-free financing principles, Hurriyet Daily News reported citing sources familiar with the matter.
Through the new infrastructure, the compliance processes with interestfree principles are now put into legal legislation in a governance framework. New tasks include the establishment of the Central Advisory Board, determination of binding standards, the formation of an advisory committee at each bank and the establishment of control and audit mechanisms to ensure compliance with the decisions taken.
Turkey issues CPI-indexed Sukuk The Ministry of Treasury and Finance of Turkey has on the 23rd September 2020 issued TRY816 million (US$106.55 million)-worth of CPI-indexed lease certificates. According to a statement, the Sukuk generated TRY1.63 billion (US$212.84 million) in demand and has a maturity date set on the 17th September 2025.
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