Two landmark sukuk issuances recognised at the Global Banking & Markets Awards 2026

This recognition highlights our leading position as Cayman Islands counsel on complex Islamic finance and debt capital markets transactions in Türkiye and across the wider region.

The award-winning transactions include:

• Financial Institutions Sukuk Deal of the Year: Vakıf Katılım – US$500m Inaugural Perpetual Additional Tier 1 Sukuk (issued October 2025). We advised alongside the Akin team.
• Financial Institutions Sukuk Deal of the Year: Dünya Katılım – US$100m Debut Basel III-Compliant Perpetual Additional Tier 1 Sukuk (issued July 2026). We advised alongside the Hogan Lovells Cadwalader team.

Our team was led by partner Ciaran Bohnacker and senior counsel Szymon Durlo.

Commenting on the awards, Ciaran Bohnacker said: 'This success reflects the growing sophistication of the Turkish Islamic capital markets. We are proud to have supported our clients on these landmark perpetual AT1 sukuk issuances, both of which represent significant milestones for their respective issuers and for the broader region.'

Szymon Durlo added: 'Türkiye's participation banks are increasingly turning to international capital markets to diversify their funding base, and these two issuances show just how far that market has come. It was a privilege to work on back-to-back firsts - Vakıf Katılım's inaugural perpetual AT1 and Dünya Katılım's debut Basel III-compliant structure - and to help bring these complex instruments to market alongside outstanding international and local counsel teams.'