Publication: Sukuk finansman modellerinden murabaha sukuk, Türkiye'de uygulaması ve muhasebeleştirilmesi
Abstract
Gelişen ve dönüşen dünya, ülkelerin kaynak ihtiyacını artırmış, bireyselgereksinimleri değiştirerek finans sektörü meydana getirmiş, finansal piyasalar oluşmuş vefinansal piyasa araçları türemiştir. 1970’lerde petrol ve dolardaki artış petrol zengini OrtaDoğu ülkelerini zenginleştirmiştir. Zenginleşen Orta Doğu ülkelerinin yatırımcılarıellerindeki kaynakları farklı ülkelerde yatırıma dönüştürmek için inançlarına uygunfinansman yöntemlerine sahip ülkeleri tercih etmişlerdir. Bu durum İslami ilke ve kurallarauygun bir ihraç sürecini ortaya koyan sermaye piyasası araçlarından biri olarak Sukuk’ukarşımıza çıkmıştır. Tez çalışmamızda Sukuk finansman modellerinin çerçevesi, özellikleri,ihraç süreçleri ve klasik finansman yöntemleri ile karşılaştırmaları yapılmıştır. Türk ekonomisistemindeki uygulaması olarak karşımıza çıkan kira sertifikalarının mevzuat boyutu ve ihraçsüreçleri açıklanmaya çalışılmıştır. Murabaha Sukuk finansman modelinin kavramsalçerçevesi, ihraç süreci, Türkiye’de uygulaması ve tarafları açısından muhasebeleştirilmesiörnek ile açıklanmaya çalışılmıştır.
Transformation and development of the world has increased resource requirementsof the countries, created the financial sector by changing individual requirements, formedfinancial markets and derived new financial market instruments. In 1970s, increase in oil anddollar has enriched the Middle East countries which are oil-rich. The investors of theenriched Middle Eastern countries preferred countries, which have appropriate Islamicfinancing methods, to convert their resources to investments. This situation has introducedthe sukuk as one of the capital market instruments, which sets out an export process inaccordance with Islamic principles and rules. In our thesis, the framework of sukuk financingmodels, their features, issuance processes and their comparison with classical financingmethods have been made. Legislative dimension and issuance processes related to leasecertificates which are encountered in the Turkish economic system have been tried to beexplained. The conceptual framework of Murabaha sukuk financing model, issuance process,applications in Turkey and accounting principles between the parties have been tried to beexplained with a model.
Transformation and development of the world has increased resource requirementsof the countries, created the financial sector by changing individual requirements, formedfinancial markets and derived new financial market instruments. In 1970s, increase in oil anddollar has enriched the Middle East countries which are oil-rich. The investors of theenriched Middle Eastern countries preferred countries, which have appropriate Islamicfinancing methods, to convert their resources to investments. This situation has introducedthe sukuk as one of the capital market instruments, which sets out an export process inaccordance with Islamic principles and rules. In our thesis, the framework of sukuk financingmodels, their features, issuance processes and their comparison with classical financingmethods have been made. Legislative dimension and issuance processes related to leasecertificates which are encountered in the Turkish economic system have been tried to beexplained. The conceptual framework of Murabaha sukuk financing model, issuance process,applications in Turkey and accounting principles between the parties have been tried to beexplained with a model.