• Digitally issued gender bond leverages blockchain (distributed ledger) technology, setting a new benchmark for financial innovation and women’s empowerment.
• $100 million investment will expand access to finance for women-owned businesses and increase  home ownership for women in Türkiye.
• The bond mobilizes private capital, opening new avenues for thematic financing.

Istanbul, Türkiye, December 3, 2025— IFC invested in Akbank T.A.Ş. (Akbank)’s inaugural Digitally Native Note (DNN), the world’s first digitally issued gender bond. This landmark transaction will help to advance opportunities for women in Türkiye.

A DNN is a security issued and settled entirely on a digital platform using distributed ledger technology (DLT). This approach enables secure, decentralized record-keeping and supports the issuance, trading, and settlement of digital securities in a manner similar to traditional bonds. Notably, Akbank’s DNN achieved T+0 settlement, meaning the bond was issued and settled on the same day—reducing settlement risk and increasing efficiency.

In Türkiye, 63 percent of women-led firms perceive access to finance as a constraint, according to World Bank Enterprise Survey database. The bond was issued through Euroclear’s Digital Financial Market Infrastructure (D-FMI), in collaboration with Citi as dealer and issuing and paying agent, with all proceeds going to projects that expand financing for women-owned small and medium enterprises (WSMEs) as well as increasing women’s access to mortgage loans in Türkiye. By unlocking new financing for WSMEs, the bond is expected to catalyze job creation across the country.

“The issuance of our first digitally native note marks a significant milestone in Akbank’s journey to embrace financial technologies and pioneer innovative solutions in capital markets. Executed on a blockchain infrastructure, this transaction is both a technological breakthrough and a financing model with social impact at its core. By directing the proceeds to women-owned SMEs and mortgages for women, we are advancing our commitment to gender equality and economic empowerment. IFC’s investment is a strong endorsement of our vision to unite cutting-edge digital solutions with meaningful social impact, driving lasting change in our economy,” said Şebnem Muratoğlu, Executive Vice President, Treasury and FI, Akbank.

“By leveraging digital technology for thematic financing, we are setting new standards for innovation and opening pathways for other investors to participate in advancing opportunities for women.” said Momina Aijazuddin, IFC Regional Industry Head, Financial Institutions Group for the Middle East and Central Asia.  “Expanding access to finance for women-owned businesses is not only transformative for entrepreneurs, it drives meaningful job creation and supports sustainable growth.”

This effort draws on the expertise of the World Bank Group and builds on the experiences of IFC and the World Bank Treasury in the digital bonds. Together, the World Bank Group supports the development of standards and practices to integrate new technologies in capital markets.

About Akbank

Akbank, established in 1948, is the 4th largest private bank in Türkiye, with total assets of US$77.9 billion and total equity of US$6.7 billion. Akbank operates via 670 dispersed throughout the country and 1 branch operating abroad, +6,250 ATMs and provides services to around 14.8 million customers as of September 2025. In Germany, the Bank has an operating subsidiary, Akbank AG, founded to carry out banking transactions in Europe. The Bank's other subsidiaries include AkLease, AkYatirim, AkPortfoy, AkOde, Akbank Ventures and AkTech as of September 2025.

Akbank, is 48% owned by Sabanci Holding, affiliated institutions and individuals*, which is a strong, diversified group and second largest conglomerate in Türkiye. Akbank is the flagship subsidiary of the group with the highest share of Net Asset Value (32.6% as of October 2025). The rest of the shares, 52%, are free floating in Borsa Istanbul. As of September 2025, 24% of all shares are held by foreign investors.    

* Shareholder structure calculated according to the ‘Shareholders List of the Ordinary General Assembly Meeting’ held on 24.03.2025. 

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

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