Publication: Yeni bir sermaye piyasası aracı sukuk
Abstract
YENİ BİR SERMAYE PİYASASI ARACI SUKUK Dünya ekonomisi hızla gelişerek büyüyen bir ekonomidir. Son yıllarda gerek İslam gerekse batılı finans piyasalarında faizsiz sabit getirili yatırım araçlarına doğru arz ve talebin arttığı görülmektedir. Finansal piyasalar da bu değişime paralel olarak yeni finansal ürünleri piyasaya sunmaktadır. Faizin yasak kabul edildiği İslam ülkelerinde, menkul kıymetleştirme faizsiz İslam yatırım araçları piyasanın temelini oluşturmaktadır. Faizsiz finansal ürünlerin, inançları gereği finansal piyasalardan uzak duran yatırımcıları piyasaya çekmek için ideal bir seçenek olduğu görülmektedir. İslami sermaye piyasası araçları özellikle Körfez sermayesinin Türkiye’ye çekilmesinde önemli bir etken olarak önem kazanmaktadır. Bu çalışmada, İslam finans piyasasının gelişimi ile İslami borçlanma aracı sukuk incelenerek, Türk sermaye piyasası ile İslam sermaye piyasası yapısı ve büyüklükleri değerlendirilmektedir. Türkiye ekonomisine katkı sağlamak için İslam sermaye piyasası araçlarının Türk sermaye piyasasında uygulanabilirliği ile ilgili kanun ve mevzuat incelenmektedir. Türk finans piyasasına kazandırılmaya çalışılan sukuk, yapısı ve işleyişi açısından ele alınmaktadır. Elde edilen veriler doğrultusunda sukukun şuanda mevcut olan bazı eksikliklerinin giderilmesinden sonra Türkiye finans piyasası için iyi bir alternatif oluşturacağı görülmektedir.
A NEW INSTRUMENT IN THE CAPITAL MARKET ‘’ SUKUK’’ There have been fast growing on World Economy as well as it’s progress. Both Islamic and western financial markets, especially in recent years, interest has increased the supply and demand of fixed-income investment instruments. Considering the fact that the financial markets have been presenting the new financial products into the world market. Securitization is the main feature of the interest-free Islamıc market where interest payment is forbidden. It is indicated that, non-interest bearing financial products are an ideal choice to bring the investors who keep away from the market by the means of their beliefs. Gulf capital to Turkey in attracting feautures of Islamic Capital market instruments is an important factor. In the present study the deelopment of the Islamic financial market and Islamic loaning are examined and also the size and the structue of the Islamic financial market and Turkish financial market are evaluated with the help of sukuk between them. Also in this study, the practicability in using the Islamic investments into Turkish economy is cheched accordy to Turkish law and legistation. Sukuk which is very tried to gain into Turkish finance market is came up due to it’s structure and worky. According to the parameters, now sukuk is seen to be a good alternative for Turkish finance after overcoming same deficiencies.
A NEW INSTRUMENT IN THE CAPITAL MARKET ‘’ SUKUK’’ There have been fast growing on World Economy as well as it’s progress. Both Islamic and western financial markets, especially in recent years, interest has increased the supply and demand of fixed-income investment instruments. Considering the fact that the financial markets have been presenting the new financial products into the world market. Securitization is the main feature of the interest-free Islamıc market where interest payment is forbidden. It is indicated that, non-interest bearing financial products are an ideal choice to bring the investors who keep away from the market by the means of their beliefs. Gulf capital to Turkey in attracting feautures of Islamic Capital market instruments is an important factor. In the present study the deelopment of the Islamic financial market and Islamic loaning are examined and also the size and the structue of the Islamic financial market and Turkish financial market are evaluated with the help of sukuk between them. Also in this study, the practicability in using the Islamic investments into Turkish economy is cheched accordy to Turkish law and legistation. Sukuk which is very tried to gain into Turkish finance market is came up due to it’s structure and worky. According to the parameters, now sukuk is seen to be a good alternative for Turkish finance after overcoming same deficiencies.