What happened

Türkiye’s Capital Markets Board has approved green and sustainable debt issuance programmes for QNB Bank and Akbank. The decisions appear in the regulator’s Bulletin No. 2026/69, as reported by Yeşil Ekonomi.

QNB Bank’s approval covers green or sustainable bonds and financing bills, with a total limit of TL5 billion.

Akbank received approval for a separate programme of up to $4 billion directed at investors outside Türkiye. Its approved instrument set comprises green or sustainable bonds, financing bills and subordinated debt instruments.

The announcements set programme-level limits rather than confirming that the full approved amounts have been issued. The reported information does not specify issuance timing, pricing, maturity, allocation criteria or the projects that could receive proceeds.

Why it matters

The approvals give both banks a regulatory basis to issue debt instruments carrying green or sustainable labels within their respective limits. They also show two distinct funding structures: QNB Bank has a TL-denominated ceiling, while Akbank’s approval is denominated in US dollars and targeted beyond the domestic investor market.

For sustainable-finance teams, the inclusion of subordinated instruments in Akbank’s programme is a notable feature of the approval. QNB Bank’s approved range is narrower, covering bonds and financing bills.

Readers assessing the programmes should watch for any subsequent issuance announcements. Those disclosures would be needed to establish whether instruments are sold, the amount raised, the terms offered to investors and the stated use of proceeds.

Programme details

  • QNB Bank: up to TL5 billion in green or sustainable bonds and financing bills.
  • Akbank: up to $4 billion in green or sustainable bonds, financing bills and subordinated debt.
  • Investor scope: Akbank’s programme is intended for investors outside Türkiye.
  • Regulatory reference: Capital Markets Board Bulletin No. 2026/69.

What to watch next

The approvals do not themselves provide deal-level information. Market participants will need later bank or regulatory disclosures to identify individual transactions and their terms. In particular, investors and issuers can monitor whether either bank publishes details on the instrument type selected under the approved programme.