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Tarfin continues to support agriculture in Turkey by issuing TRY 50 million in lease certificates

Tarfin continues to support agriculture in Turkey by issuing TRY 50 million in lease certificates 12.01.2023

Tarfin, Turkey's leading digital agriculture platform, continues to issue securities by the principles of Islamic Finance, covering the entire industry from large producers to small farmers.  

Tarfin completed its third Sukuk issuance under the exclusive financial advisory of the Development and Investment Bank of Turkey and through Ziraat Investment and Securities, acting as a sales intermediary. To date, Tarfin has issued TRY 140 million in Sukuk, including its latest Sukuk issuance with a maturity of 245 days and an amount of TRY 50 million. 

 ‘We have offered favorable maturity terms to more than 50,000 farmers’ 

 Mehmet Memecan, CEO of Tarfin, noted that they remain committed to diversifying financing instruments in the sector and added, “We set out to support agriculture in Turkey. We have supplied essential inputs such as fertilizers, seeds, and feeds to more than 50,000 farmers with maturities suitable for their cash flow. We support our farmers in line with the principles of Islamic Finance and ensure they have the confidence to maintain their level of production. As a result, through our Sukuk issuances and collaboration with the Development and Investment Bank of Turkey and Ziraat Investment and Securities, we act as an intermediary between farmers and investors seeking to invest in agriculture. We will continue to create added value throughout the process extending from producers to consumers through new services offered on our platform, capital market issuances, and the investments attracted.” 

‘We will continue to play an active role in the financing of agriculture”

Ibrahim Öztop, General Manager of the Development and Investment Bank of Turkey, highlighted that the recent Sukuk issuance marks an important collaboration for the agricultural sector as part of the capital markets consultancy and continued, “We executed the first Sukuk issuance of Tarfin at an amount of TRY 40 million in July, followed by a second Sukuk issuance in November at an amount of TRY 50 million. Considering the important role of agriculture in the development of our country, we continue to play an active part in agriculture financing. Our Bank will continue to develop innovative and sustainable products that will set an example in the capital markets to contribute to sustainable development and the growth of our capital markets.”

 About Tarfin:

As Tarfin, we believe that farmers have crucial importance for our wellbeing, and we have pursued our activities to support farmers and farm operations since our establishment.Using proprietary machine learning-based agricultural risk scoring models, we ensure that Turkish farmers have access to all agricultural inputs such as fertilizers, seeds, and feed with competitive prices and the chance to pay at harvest.Via Tarfin Mobil, farmers are able to compare current prices of fertilizers, feed and other agricultural inputs through vendors closest to them.Today, our farmers can easily reach us via Tarfin Mobil and more than 1200 authorized Tarfin retailers operating in more than 80 cities. Farmers who want to purchase their agricultural inputs from Tarfin on harvest payment or cash basis, visit our sales points in their region, complete their transactions within 4 minutes, and receive their agricultural inputs instantly.

Tarfin’s farmers purchase their agri-inputs with competitive price offers without hidden fees or extra costs. Farmers are able to choose their preferred payment day based on their expected harvest dates.


 

  


 

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