{"id":7878,"date":"2024-05-13T13:45:06","date_gmt":"2024-05-13T13:45:06","guid":{"rendered":"https:\/\/sotnews.agency\/?p=7878"},"modified":"2024-05-13T13:45:06","modified_gmt":"2024-05-13T13:45:06","slug":"golden-global-investment-bank-signs-letter-of-intent-for-20m-line-of-finance-from-the-islamic-development-bank-group","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=7878","title":{"rendered":"Golden Global Investment Bank Signs Letter of Intent for $20M Line of Finance from the Islamic Development Bank Group"},"content":{"rendered":"
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Negotiations between the Islamic Corporation for the Development of the Private Sector (ICD) (https:\/\/ICD-ps.org<\/a>) and Golden Global Investment Bank have successfully concluded with the signing of a letter of intent, for the proposed extension of a USD 20 million line of finance facility, during the IsDB Group\u2019s 2024 Private Sector Forum. The line will be utilized by Golden Global Investment Bank for onward financing of eligible private sector projects in T\u00fcrkiye. A definitive agreement will be finalized following thorough due diligence and the acquisition of all requisite internal approvals from ICD.<\/p>\n

The signing ceremony held in Riyadh was attended by Eng. Hani Salem Sonbol, Acting CEO of ICD, and Metin Akdo\u011fan, Deputy CEO of Golden Global Investment Bank. Commenting on the agreement, Mr. Akdo\u011fan said, \u201cThe letter of intent we have signed with the subsidiary of a renowned institution like ICD, a member of the Islamic Development Bank Group which is considered an authority in Islamic Banking, is a testament to our bank\u2019s reliability and reputation in the industry. In addition, this cooperation clearly demonstrates our commitment to the private sector in T\u00fcrkiye and our desire to contribute to the development of the country. With the support of Golden Global Investment Bank and ICD, private sector enterprises will be poised to increase investments, create new jobs, and strengthen the Turkish economy further.\u201d<\/p>\n

In addition to bolstering the Turkish economy, Golden Global Investment Bank aims to forge relationships with new institutional investors and expand its investor base in international markets. The bank has recently completed its first international Sukuk issuance, raising EUR 30 million within the scope of the \u201cSukuk Issuance Program\u201d amounting to a total of 200 million USD. Golden Global Investment Bank\u2019s credit rating has been upgraded from BBB- (tr) to A- (tr) by JCR Eurasia Rating, an international credit rating firm with Turkish capital, placing the Bank in the high investment level category.<\/p>\n

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).<\/p>\n

About Golden Global Investment Bank:<\/strong>
\nGolden Global Investment Bank stands out as T\u00fcrkiye\u2019s first investment bank dedicated to interest-free banking principles. Officially commenced its operations in June 2020, Golden Global Investment Bank takes a boutique banking approach, prioritizing personalized service and innovative financial solutions. The Bank offers investment banking, transactional banking (cash management and international trade finance) and treasury products and services to corporate and commercial banking customers while adopting interest-free financing. Golden Global Investment Bank reported robust financial growth in 2023. By year-end, total assets had significantly increased by 382.43% to TL 12.4 billion. Equity also demonstrated strong growth, rising 263.47% to TL 1.3 billion. As of January 1, 2024; JCR Eurasia Rating has affirmed Golden Global Investment Bank\u2019s creditworthiness by upgrading the Long-Term National Issuer Credit Rating from BBB- (tr) to A- (tr) within the high investment level category.<\/p>\n

About the Islamic Corporation for the Development of the Private Sector (ICD):<\/strong>
\nICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD\u2019s mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and\/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises.\u00a0 ICD is rated \u2018A2\u2019 by Moody\u2019s, \u2018A+\u2019 by Fitch, and \u2018A-\u2019 by S&P.<\/p>

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Negotiations between the Islamic Corporation for the Development of the Private Sector (ICD) (https:\/\/ICD-ps.org) and Golden Global Investment Bank have successfully concluded with the signing of a letter of intent,… <\/p>\n","protected":false},"author":1,"featured_media":7879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-7878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/7878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7878"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/7878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/7879"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}