BAKU, Azerbaijan, December 3. The International Finance Corporation (IFC) invested in Akbank T.A.Ş. (Akbank)’s inaugural Digitally Native Note (DNN), the world’s first digitally issued gender bond, Trend reports via the IFC.
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.