Kuwait – Mubasher: Kuwait Finance House Turkey (KFH-Turkey) has issued a lease certificate (sukuk) of TL 160 million ($58.4 million) with a tenor of 189 days through an initial public offering that achieved a record-breaking amount in the Turkish market.

The issuance, structured in accordance with participation banking principles (i.e. Islamic banking), is the biggest ever lease certificate (sukuk) offering in Turkish Lira by the private sector in the domestic market, said a press release.

Operating with the “robust banking” model in Turkey, KFH-Turkey has surpassed its previous issue size of TL150 million in 2013 with its current issuance of TL160 million.