Dubai Islamic Bank P.J.S.C. (DFM:DIB) agreed to acquire 20% stake in T.O.M. Group from Aydin Group on July 5, 2023. The agreement comes with an option to increase shareholding to 25% within 12 months. Aydin Group, T.O.M. Group?s founding shareholder with its new partner DIB, aims to make T.O.M. Group a national leader with an aspiration to grow regionally in the digital banking and financial technology sector.

The transaction has been approved by the Banking Regulation and Supervision Agency (BDDK), the Central Bank of the Republic of Türkiye (CBRT) and the regulatory authorities in the UAE, and will be formalized after the clearance of the Turkish Competition Authority (Competition Authority). Derek Meilman and Paul Barron of King & Spalding International LLP acted as a legal advisor to Aydin Group.