Publication: Türkiye’ de özel finans kurumları açısından leasing işlemleri
Abstract
Bilindiği gibi bir ekonominin önemli bir alt sistemi ve tamamlayıcı parçası olan finansal sistemde, fon arz edenlerle talep edenlerin buluşmasını sağlayan uzman kuruluşlar yer alır. İlkel ekonomilerin oldukça sınırlı ve basit finansal sistemleri varken, modern gelişmiş ülkeler oldukça karmaşık ve farklılaştırılmış yapılara sahiptirler. Yüzlerce farklı finansal araç ve finansman kurumundan oluşan, karmaşık mülkiyet yapılarına sahip kuruluşların yer aldığı finansal sistemde, piyasaların ve kurumların düzenlenmesi de oldukça karmaşıktır. Finansal piyasalarda alınıp satılan varlıkların farklılaştırılması, vadelerinin uzatılması, iş yapan finansal kurumların çeşitlerinin çoğalması ve sayılarının artması ile finansal kalkınmanın sağlandığına inanılmaktadır. Gelişmiş ekonomilerin temel taşlarından biri olan; kısa vadeli fon arz ve talebinin karşılaştığı para piyasası ile orta ve uzun vadeli fon arz ve talebinin karşılaştığı sermaye piyasaları, ekonomide yatırım eşitliğinin gerçekleşmesi ve fonların işletmelere uygun şekilde dağılımın sağlayan araçlardan biri olması bakımından, Devletin teşvik ettiği teşkilatlanmış bir yapıdır. Bu amaçla Ülkemizde ilk defa 28/ 07/ 1981 tarihli 2499 sayılı sermaye piyasası kanunu çıkarılmıştır. Bununla da yetinilmemiş ve Anglo Amerikan Ülkeleri ile Kara Avrupa'sı ülkelerindeki leasing sözleşmesinden esinlenerek, 16/ 12/ 1983 tarih ve 83/ 7506 sayılı Özel Finans Kurumları Kurulması Hakkındaki Kararname yürürlüğe konmuştur Bu gelişmeyi 10/ 06/ 1985 tarih ve 3226 sayılı Finansal Kiralama Kanunu'nun bağımsız bir sözleşme biçiminde hukukumuza girmesi izlemiştir. Bu çalışmanın ana amacı, finansal kiralama faaliyetlerinin bir yatırım teşvik tedbiri olarak ülke kalkınmasında kullanılmasının önemine dikkat çekmektir. Türkiye'de Özel Finans Kuruluşları Açısında Leasing İşlemleri adlı tezimiz 3 bölümden oluşmaktadır. Birinci bölümde Dünya'da leasingin ilk ortaya çıkışı, gelişimi, gelişmiş ve gelişmekte olan ülkelerdeki uygulama şekli anlatılmaya çalışılmıştır. İkinci bölümde ise leasingin Türkiye uygulamasına yer verilmiş, ağırlıklı yasal düzenlemeler açısından incelenmiş, özel finans kurumları ile diğer leasing kuruluşları açısından leasing işlemlerinin karşılaştırılması yapılmıştır. Üçüncü ve son bölümde, mevcut yasal düzenlemelerin, uygulamadan önce yapılmış olması nedeniyle ortaya çıkan sorunlar üzerinde durulmuş, Finansal Kiralama Kanunu'ndan kaynaklanan, uygulamadan kaynaklanan sorunlar ve diğer problemler belirtilerek çözümü için öneriler getirilmeye çalışılmıştır. Leasing en basit tanımıyla; belli bir süre için, kiralayan (lessor) ve kiracı (lessee) arasında imzalanan ve üreticiden kiracı tarafından seçilip kiralayan tarafından satın alınan bir malın, mülkiyetini kiralayanda, kullanım hakkını ise kiracıda bırakan bir sözleşme olup, malın kullanımının belirli bir kira ödemesi karşılığında kiracıya bırakılmasıdır . Yapılan araştırmalar sonucunda; özellikle Dünya'nın en güçlü leasing endüstrisine sahip olan Amerika'daki leasing uygulamaları ile Türkiye'deki leasing uygulamalarının birbirinden gerek mevzuat, gerek muhasebe standartları açısından son derece büyük farklılıklar gösterdiği ve uygulamadaki çeşitlilik açısından Türkiye'nin son derece basit ve mevzuat açısından sınırlayıcı bir leasing piyasasının bulunduğu buna karşılık Amerikan leasing piyasasının da son derece komplike bir hal aldığı görülmüştür. Ülkemizde, Finansal Kiralama, geleneksel finansman yollarına göre oldukça yeni bir yöntem sayılmaktadır. Orta vadeli yatırım kredisi, kira, taksitli satış gibi üç değişik işlemin birleşmesinden oluşan ve bunlardan farklı bir nitelik gösteren, kendine özgü bir işlem olan finansal kiralama, Türkiye'de benimsenen şekliyle, orta vadeli kredi kullanımına çok yatkın bir finans yöntemi olarak kabul edilebilir. Bir çok avantaja sahip olan leasing sektörü henüz genç bir sektör sayıldığı için doğal olarak da bir takım sorunlara sahiptir. Bu sorunlar gerek hukuksal alt yapı ile ilgili sorunları gerekse pratik uygulama sorunlarını ve yetersizliklerini içermektedir. Leasing sektörünün bugün karşılaştığı en büyük sorun kuşkusuz hukuksal altyapı ile ilgili sorunlardır. Leasing sektörü Türkiye'de yaşam eğrisinin henüz yükseliş kısmındadır. Sunulan leasing hizmeti uzmanlaşmamıştır ve büyük ölçüde standart özellikler taşımaktadır. Gelişim için hukuki ve mali alt yapı değişiklikleri tamamlandıkça ve rekabet arttıkça, sunulan leasing hizmetleri daha esnek, daha yaratıcı ve daha müşteriye özgü ürünler haline gelecektir. Leasing şirketleri belli sektörler veya ekipmanlar üzerinde uzmanlaşmaya başlayacak ve operasyonel leasing, alt leasing gibi değişik leasing uygulamaları gündeme gelecektir. Mevzuat konusunda aslında bir çok sektöre göre şanslı bir şekilde uygulamaya geçilen leasing sektöründe yine aynı mevzuat daha sonraları bazı sorunlar yaratmaya başlamıştır. Henüz uygulamaya geçilmeden mevzuatı hazırlanan bu sektörde ilk dönemlerde bir çok avantajdan yararlanılmış ve finansal kiralamanın kısa bir sürede sıçrama yapması sağlanmıştır. Ancak 1985'de resmi gazete yayınlanarak uygulamaya sokulmuş olan 3226 sayılı Finansal Kiralama Kanunu ve ilgili mevzuatı o günden bu güne hiçbir değişikliğe uğramamıştır. Zamanın hızla değişen koşullarında elbetteki 16 yıl önce oluşturulmuş mevzuat yeterlilik düzeyini bir çok açıdan kaybetmiş ve uygulanabilirliği sınırlı kalmıştır. Bu nedenle yetersiz bir mevzuat uygulama açısından sektörü de sınırlamaktadır. Bu nedenle sözkonusu mevzuatın çağın koşullarına ve artık küresel rekabetin hat safhaya ulaştığı dünya piyasalarına uygun bir şekilde yenilenmesi bir zorunluluktur. Bunun yanında Türkiye'de leasing işlemi yapma yetkisine sahip olan kuruluşlardan, yatırım bankaları, finansal kiralama şirketleri ve özel finans kurumları, leasing işlemleri açısından, mevzuat olarak aynı düzenlemelere tabi tutulmuştur. Bununla birlikte, kar ve zarara katılma adı altında topladıkları mevduata başlangıçta belirlenmiş herhangi bir kar taahhüdünde bulunmayan ÖFK'lar gerek fiyatlama açısından ve gerekse de sahip oldukları şube ağları ile diğer bankacılık işlemleri açısından maliyetlerde sağladıkları avantajlar nedeniyle, diğer leasing kuruluşlarına göre bir çok avantajlara sahiptirler ve aynı zamanda diğer finansal kiralama şirketlerini de sahip oldukları diğer finansal enstrümanlar (murabaha, mudaraba vs...) yolu ile zaman zaman fonlayabilmektedirler.
It is a known fact that in a financial system which plays an important role as a sub system and complementary component of economy, there always exists corporations which constitute the ground for the ones who demand and supply funds. While primitive economies have simple and limited financial systems, contemporary economies have complex and distinguished structures. To regulate the markets and institutions in a financial system which is made of different financial tools, financing corporations and complex structured corporations, requires a great deal of work. It is strongly believed that changing the types of the purchaced and sold items in the markets, prolonging the financial terms, increasing the type and the number of the financial coprorations will bring the financial improvement. Money and capital markets are the main players of the contemporary economies. In the money markets, supply and demand of the short term funds come across. Whereas long term funds are considered for supply and demand in the capital markets. These two different markets are used to to equalize the investment in Economy and to allocate the funds equally for the institutions. This organized structure is greatly encouraged by the government. To meet the criterieas discussed above, for the first time in our Country, capital market law dated as 28/ 07/ 1981 and numbered as 2499 is brought into force. In addition to that with the inspiration from the leasing contract made between Anglo Amerikan and European countries, private finance corporations agreement(16/ 12/ 1983-83/ 7506) is accepted. Following these progresses Financial Leasing Law(10/ 06/ 1985-3226) is brought into our national Law system in the form of an independent contract. The main reason of this paper is to state the importance of financial leasing activities in the development of the country when used as encouraging investment measure. Our thesis named Leasing operations from the point of private finance corporations in Turkey is formed of three sections: First section explains the come out and development of leasing in the world and how it is applied in the developing countries. In the second section, practices of leasing in Turkey is explained. It is examined from the point of weighted legal arrangements. Leasing operations are compared between the private finance corporations and other leasing companies. The third and the final section describes the problems arouse because the current legal arrangements were made before the leasing concept is brought into the real life. Also the problems sourced from the Financial Leasing Law and misuse of Leasing are argued with several suggestions. Basically Leasing is a long-term rental agreement, and a form of secured long-term debt. There are two parties taking part in the rental aggrement, lessee and the lessor. The lessee is the person who pays rent to the lessor for the right to use the asset.The lessor is the person who hires out, lets or leases the asset and receives rent for it. The researches made about leasing exposed that leasing practices in USA which has the most powerfull Leasing Industry in the world shows big differences between the practices in Turkey especially in the areas of subjects under discussion and accounting standards. The research shows that because of the diversity in the practices Turkey has a primitive and restrictive leasing market as far as the subjects under discussion is concerned. Whereas the leasing market in USA has a really complicated structure. Financial Leasing in Turkey is considered as a new method when compared with other traditional forms of financing. Financial Leasing is a compund of mid termed investment credit, rent and instalment sale. But it shows a different characterictic in its own when compared with three of these methods. In Turkey it is mostly known as a financial method which is apt for the use of mid termed credit. While the Leasing sector is offering many advantages, it has some problems arising from the insufficient law infrastructure, not well defined and incapable methods in the practical life. Among these problems the ones belonging to the infrastructure constitute the biggest problems against the Leasing Sector. Leasing sector in Turkey is yet in the climbing edge of it life cycle. The Leasing services offered is not speacialized yet and carries mostly the standard and simplest chracteristics. With the progress and changes in the structure of related law and finance, and increase in competition, Leasing services offered will be more flexible, creative and customer oriented products. Leasing sector started its practices in Turkey in a more fortunate way when compared with other sectors as far as the subject under discussion is concerned. But the same subject under discussion created some problems. Since the laws for leasing are established and brought into force before Leasing is practiced in the real life, it took some advantages of it and made a big leap. But since 1985, after it is publicized in the natioanl official paper there is no changed made in the content of it. 16 years ago formed law has naturally lost its sufficiency and flexibility. Its usability stayed limited. For this reason insufficient subjects under discussion restricts the sector as well. For this reason all the subjects in the law should be reviewed and reformed in order to be competitive in the world market. In addition, all the corporations in Turkey who have the right to do Leasing such as investment banks, financial leasing companies and private finance institutions are subject to the same regulations. ÖFK's who collected deposits with the promise of participation to the profit/ loss and did not promise any profit and ratio over the profit for the collected fund have great advantages over other leasing corpoarations in banking operations as far as the pricing and branch network is concerned. They can also fund other leasing institutions by the way of other leasing instruments(murabaha, mudaraba vs...) they own from time to time.
It is a known fact that in a financial system which plays an important role as a sub system and complementary component of economy, there always exists corporations which constitute the ground for the ones who demand and supply funds. While primitive economies have simple and limited financial systems, contemporary economies have complex and distinguished structures. To regulate the markets and institutions in a financial system which is made of different financial tools, financing corporations and complex structured corporations, requires a great deal of work. It is strongly believed that changing the types of the purchaced and sold items in the markets, prolonging the financial terms, increasing the type and the number of the financial coprorations will bring the financial improvement. Money and capital markets are the main players of the contemporary economies. In the money markets, supply and demand of the short term funds come across. Whereas long term funds are considered for supply and demand in the capital markets. These two different markets are used to to equalize the investment in Economy and to allocate the funds equally for the institutions. This organized structure is greatly encouraged by the government. To meet the criterieas discussed above, for the first time in our Country, capital market law dated as 28/ 07/ 1981 and numbered as 2499 is brought into force. In addition to that with the inspiration from the leasing contract made between Anglo Amerikan and European countries, private finance corporations agreement(16/ 12/ 1983-83/ 7506) is accepted. Following these progresses Financial Leasing Law(10/ 06/ 1985-3226) is brought into our national Law system in the form of an independent contract. The main reason of this paper is to state the importance of financial leasing activities in the development of the country when used as encouraging investment measure. Our thesis named Leasing operations from the point of private finance corporations in Turkey is formed of three sections: First section explains the come out and development of leasing in the world and how it is applied in the developing countries. In the second section, practices of leasing in Turkey is explained. It is examined from the point of weighted legal arrangements. Leasing operations are compared between the private finance corporations and other leasing companies. The third and the final section describes the problems arouse because the current legal arrangements were made before the leasing concept is brought into the real life. Also the problems sourced from the Financial Leasing Law and misuse of Leasing are argued with several suggestions. Basically Leasing is a long-term rental agreement, and a form of secured long-term debt. There are two parties taking part in the rental aggrement, lessee and the lessor. The lessee is the person who pays rent to the lessor for the right to use the asset.The lessor is the person who hires out, lets or leases the asset and receives rent for it. The researches made about leasing exposed that leasing practices in USA which has the most powerfull Leasing Industry in the world shows big differences between the practices in Turkey especially in the areas of subjects under discussion and accounting standards. The research shows that because of the diversity in the practices Turkey has a primitive and restrictive leasing market as far as the subjects under discussion is concerned. Whereas the leasing market in USA has a really complicated structure. Financial Leasing in Turkey is considered as a new method when compared with other traditional forms of financing. Financial Leasing is a compund of mid termed investment credit, rent and instalment sale. But it shows a different characterictic in its own when compared with three of these methods. In Turkey it is mostly known as a financial method which is apt for the use of mid termed credit. While the Leasing sector is offering many advantages, it has some problems arising from the insufficient law infrastructure, not well defined and incapable methods in the practical life. Among these problems the ones belonging to the infrastructure constitute the biggest problems against the Leasing Sector. Leasing sector in Turkey is yet in the climbing edge of it life cycle. The Leasing services offered is not speacialized yet and carries mostly the standard and simplest chracteristics. With the progress and changes in the structure of related law and finance, and increase in competition, Leasing services offered will be more flexible, creative and customer oriented products. Leasing sector started its practices in Turkey in a more fortunate way when compared with other sectors as far as the subject under discussion is concerned. But the same subject under discussion created some problems. Since the laws for leasing are established and brought into force before Leasing is practiced in the real life, it took some advantages of it and made a big leap. But since 1985, after it is publicized in the natioanl official paper there is no changed made in the content of it. 16 years ago formed law has naturally lost its sufficiency and flexibility. Its usability stayed limited. For this reason insufficient subjects under discussion restricts the sector as well. For this reason all the subjects in the law should be reviewed and reformed in order to be competitive in the world market. In addition, all the corporations in Turkey who have the right to do Leasing such as investment banks, financial leasing companies and private finance institutions are subject to the same regulations. ÖFK's who collected deposits with the promise of participation to the profit/ loss and did not promise any profit and ratio over the profit for the collected fund have great advantages over other leasing corpoarations in banking operations as far as the pricing and branch network is concerned. They can also fund other leasing institutions by the way of other leasing instruments(murabaha, mudaraba vs...) they own from time to time.