Treasury Grants Authority to 5 Banks for Dollar-Denominated Lease Certificate Issuance

The Ministry of Treasury and Finance has announced that it has authorized five banks to issue lease certificates denominated in dollars in international capital markets. According to the announcement from the Ministry, Bank ABC, Dubai Islamic Bank, HSBC, Kuwait Finance House, and Standard Chartered have been authorized for this significant financial move. This development is considered part of Turkey's efforts to diversify its financial instruments in international markets and expand its investor base. Lease certificates aim to provide investors with fixed returns while seeking to create additional resources to support Turkey's economic growth.

In addition to this, the Ministry of Treasury and Finance carried out an issuance of lease certificates worth approximately 12.1 billion Turkish Lira last week. According to the announcement published on the Ministry's website, the issued lease certificates have a valuation date of November 13, 2024, and a maturity date of November 11, 2026, with a two-year term and fixed returns. Following the lease certificate auction results, information regarding the sales amounts for the qualifying purchasing banks and public institutions will be communicated through the Central Bank's Payment Systems Auction System.