Participation banks issue 214 billion Turkish Liras in sukuk in 2025

ISTANBUL

Participation banks issued a total of 213.9 billion Turkish Liras ($4.9 billion) in sukuk last year, with an average maturity of 139.9 days, according to data from the Participation Banks Association of Türkiye (TKBB).

The majority of sukuk issuances, amounting to 90.65 percent, were sold through private placements to qualified investors. Public offerings accounted for 9.33 percent of the total, while allocated sales represented just 0.02 percent.

Ziraat Participation Bank led the sector with 76.3 billion liras in sukuk issuances. It was followed by Albaraka Türk with 49.3 billion liras, Emlak Participation Bank with 39.7 billion liras, Vakıf Participation Bank with 27.1 billion liras, Türkiye Finans with 12.4 billion liras, Kuveyt Türk with 5.6 billion liras, Dünya Participation Bank with 2.5 billion liras and Hayat Finans with 1 billion liras.

Since records began in 2013, total sukuk issuances in Türkiye reached 740.5 billion liras by the end of 2025, with an average maturity of 140.9 days. Over this twelve‑year period, 86.1 percent of sukuk were sold to qualified investors, 8.6 percent through public offerings and 5.3 percent via allocated sales.

so topped the cumulative rankings with 178.3 billion liras in sukuk issuances over the period. Albaraka Türk followed with 133.6 billion liras, Emlak Participation Bank with 125.7 billion liras, Vakıf Participation Bank with 116.5 billion liras, Kuveyt Türk with 98.4 billion liras and Türkiye Finans with 84.6 billion liras.