Telecoms Turkcell secures $150m loan from Dubai Islamic Bank By Pramod Kumar May 28, 2025, 7:51 AM Alamy/Robert W via Reuters Connect A Turkcell shop in Istanbul. The telco is borrowing to invest in data centres and other critical infrastructure Second loan from a UAE bank in a week Will finance infrastructure such as data centres Turkish data centre market to be worth $5 billion Turkey’s mobile operator Turkcell has secured its second loan from a UAE bank in a week. Dubai Islamic Bank will provide $150 million financing to fund digital infrastructure. The five-year Islamic facility will allow Turkcell to advance critical infrastructure such as data centres, cloud technologies and renewable energy, the lender said in a statement. Last week Turkcell secured €100 million ($113 million) in sharia-compliant funding from Emirates NBD to invest in data centres. Turkcell aims to build high-capacity, eco-friendly data centres to meet the growing demands of cloud computing, artificial intelligence and big data in Turkey. The country’s data centre market is anticipated to grow to $5 billion by 2032, from $3 billion in 2023, at a compound annual growth rate of 5 percent, according to Arizton Advisory & Intelligence. UAE telco Du’s profit up a fifth as subscriber base expands Market volatility adds allure to utilities and telecoms Aramco and Saudi Telecom units back US startup Graphiant Dubai Islamic Bank, which trades on the Dubai Financial Market, has assets exceeding $90 billion. It operates 500 branches across the Middle East, Asia and Africa. The lender closed 0.4 percent higher on Tuesday at AED8.19, giving it a market capitalisation of more than $14 billion. The Investment Corporation of Dubai owns a 28 percent stake in the bank. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
