100 Million Dollars of Finance Income from Islamic Development Bank to TSKB (Industrial Development Bank of Türkiye)
Türkiye's first private development and investment bank TSKB signed with the Islamic Development Bank ‘Limited Profit and Loss Partnership Agreement’ for supporting such projects launched in renewable source-based energy production and energy efficiency issues.
Adopting the environment and sustainable banking concepts as a part of its management philosophy, Industrial Development Bank of Türkiye (TSKB) signed on 4th December 2012 “Limited Profit and Loss Partnership Agreement” with Islamic Development Bank. With this agreement, TSKB obtained 100 million dollars of finance income from Islamic Development Bank.
“Limited Profit and Loss Partnership Agreement” signed in Ankara between TSKB and Islamic Development Bank was put into practice through the guarantee given by TR Prime Ministry Undersecretariat of Treasury.
This finance income obtained from Islamic Development Bank will be used for financing the fixed capital investments to be made by the private sector companies operating throughout Türkiye with regard to renewable source-based energy production and/or energy efficiency issues.
With this finance income, TSKB will continue the support it is already providing for the investments aimed at renewable energy sector and energy efficiency.
