DIB recently concluded an aircraft financing agreement with Turkish Airlines, marking the first Islamic finance deal in the airline’s history and contributing to its growth strategy.
This transaction paves the way for Shariah-compliant financing structures to play a crucial role in advancing one of the world’s leading airlines. It underscores DIB’s commitment to expanding Islamic finance globally.
The agreement is part of DIB’s broader objectives to enhance the reach and acceptance of Islamic finance across international boundaries. By assisting Turkish Airlines with this fully Shariah-compliant financing framework, DIB reinforces the credibility and flexibility of Islamic finance in handling complex cross-border financial arrangements.
This transaction represents Turkish Airlines’ initial foray into Islamic finance-backed aircraft leasing. DIB financed the purchase and integration of a new Airbus A350-941 into the airline’s fleet through an Islamic finance lease (Ijarah) structured over 12 years.
DIB officials stated that in light of current global financial shifts towards sustainable practices, this deal demonstrates that Islamic finance is no longer a niche but a robust and universally relevant financial framework for the future.
Turkish Airlines noted that this transaction signifies its ongoing commitment to financial innovation and fleet enhancement, marking a significant new partnership with institutions in the UAE and the wider Gulf region.
Other Recent Developments
In July 2025, DIB finalized a USD 1 billion syndicated term-finance facility for the Government of Pakistan (GoP). The agreement was facilitated through a consortium of regional and international financial institutions. Approximately 89% of this facility was in an Islamic tranche structured as an AAOIFI-compliant Commodity Murabaha, reflecting growing demand for Shariah-compliant financing.
This transaction supported Pakistan’s strategic initiative to bolster its Islamic finance sector while contributing significantly to the country’s financial landscape.