New product issued by Aktif Bank

Aktif Bank issued the first "Gold-Backed Sukuk" in Turkey.

Being the largest privately-owned investment bank in Turkey, Aktif Bank issued "Gold-Backed Lease Certificate (Sukuk)", breaking a new ground in the Turkish capital markets. The issue of 100 million TRY with a maturity of 360 days, the principal and returns of which will be paid on the date of redemption, was performed on March 9, 2018 via Borsa Istanbul, yielding successful results with the high-level of interest by corporate investors. Being as the first Sukuk transaction issued in the type of Diminishing Musharakah across Turkey, this issue is also a first in the field of interest-free finance.

Stating that they are highly pleased with the interest to this issue, Tevfik Kinik, Executive Vice President at Aktif Bank, said: "We, as Aktif Bank, have launched another brand-new product in the Turkish capital markets. The performance of the gold funds, to invest in this product, will substantially enhance, and the loss, caused by the fund costs, will be minimized, and the fund investors will be provided with added value.  One of the primary objectives adopted by our Bank is to generate tailored solutions for our investors and clients. We are highly pleased with the high level of interest for this innovative product ​intended to satisfy the need of investors. We will keep our initiatives to create added value to the capital markets in the following period."