The Importance and Role of Sukuk Marketing as an Islamic Bond in the Economy
In this study, one of the tools of Islamic financing
known as “Sukuk” a non-interest bearing investment which has
started to be implemented in Turkey and the world as a whole is
discussed. In order to increase the vitality and efficiency of the
economy, by taking lessons from the recent economic crisis new
developments in the banking and investment sector are being
expanded. The purpose of all investors is to obtain more revenue
through the use of capital. The inability of traditional investment
tools to meet the expectations of investors and the interest based
financial system where one investor benefits at the expense of
another there has been the need for a different, reliable and noninterest
bearing financial market that is consistent with the Islamic
rule. As a result an alternative and more reliable interest free
financing tool “Sukuk” rental certificates covering people who are
sensitive to Islamic rules, appeal to all segments, hidden remaining
capital that contributes to the economy, reduce disparities in income
distribution, common risk sharing system of profit and loss sharing
has emerged. Today, for the structural countries by examining the
state of the world market economy the applicability, enactment and
future issues associated with this attractive kind of Islamic finance
namely the “Sukuk” market has been explained.
[1] Serpam. “İslami Finans Kavramı, Ürünler, Dünya’da ve Türkiye’de
Gelişimi ve Geleceği,” İslami Finans, pp. 5, 7, 11. May 2013.
[2] E. Yılmaz, “Yeni Bir Finansman Araç Olarak Sukuk: Çeşitleri, Türkiye
Uygulaması ve Vergilendirilmesi,” Muhasebe ve Finansman Dergisi,
2014, pp. 81-100.
[3] M. Yardımcıoğlu, Y. Ayrıçay, İ. Sabuncu and İ. Gerekli, “Türkiye’de
Sukuk: Kira Sertifikaları,” pp. 199-221, 2014.
[4] M. Çanakçı, “Çok Kutuplu Dünyada İslami Finans Piyasalarının
Gelişimi ve Sukuk İhraçları,” Turkish Journal Of Islamic Economics,
Vol: 1, 2014, pp.43-59.
[5] M. A. Khan, Islamic Economics and Finance: Glossory. 2. Edition.
London: Routledge. 2003, pp. 129.
[6] I. Söyler, “Hukuki ve Mali Boyutlarıyla Sukuk (Kira Sertifikaları),”
2014, pp. 20-48. [7] H. Türker, “İslami Finans Sisteminde Finansal Aracılık”, Sermaye
Piyasası Kurulu Aracılık Faaliyetleri Dairesi, Ankara, Proficiency Study,
2010, pp. 8-11.
[8] C. J. Goldlewski, R. Ariss-Turk and L. Weill, “Sukuk vs. Conventional
Bonds: A Stock Market Perspective,” Cournal of Comparative
Economics, 2013, pp. 746.
[9] K. Dede, “Kira Sertifikaları,” TBB. www.tkbb.org.tr/haber-delay/sukukkenan-
dede-2013, date accessed. 31.12.2014, 2013, pp. 26.
[10] AAOIFI, Shari’a Standards For İslamic Financial İnstitutions, 1432H-
2010, pp. 307.
[11] A. Ausaf, “Contemporary Practises of Islamic Financing Techniques”,
Islamic Development Bank, Cidde, 1993, pp. 33-49.
[12] A. Tok, “İslami Finans Sistemi Çerçevesinde Sukuk (İslami Tahvil)
Uygulamaları, Katılım Bankaları Ve Türkiye Açısından
Değerlendirmeler,” proficiency study, 2009, pp.13-14, 56, 60-61.
[13] M. Güngören, “Katılım Bankalarında Menkul Kıymet İhracının
(Seküritizasyon) Yapısal Farklılık Gösteren Finansal Piyasalarda Uyum
Modellemesi: Sukuk Örneği (Unpublished work style),” unpublished,
Kadir Has University, İstanbul, 2011, pp. 96, 98, 99.
[14] M. Yardımcıoğlu, Y. Ayrıçay, and S. Coşkun, “İslami Finanas
Çerçevesinde Menkul Kıymetleştirilmiş Varlık; Sukuk Dünya ve
Türkiye Piyasası,” pp. 157-174, 2014.
[15] Securities Commission Malaysia (SC), 2009.
[16] AAOIFI, http://www.aaoifi.com, 2005.
[17] Asya Yatırım, http://www.asyayatirim.com.tr/AsyaYatirim_31_3_
sukuk, date accessed: 31.12.2014, 2014.
[18] Kuveyt Türk, www.kuveytturk.com.tr, date accessed: 13.02.2015, 2015.
[19] N. Ece, “Dünya’da Ve Türk Bankacılık Sektöründe İslam Bankalarının
Gelişimi”, Akademik Bakış Dergisi, Uluslar arası Hakemli Sosyal
Bilimler E- Dergisi, 2011, no.25, pp. 4.
[20] S. Koçak, “Sukuk: Çeşitleri, Piyasası ve Ülkemizdeki Gelişimi,” Vergi
Sorunları Dergisi. No. 283, 2014, pp. 177-186.
[21] A. İ. Özeroğlu,” Sukuk ve Türkiye’de Sukukun Uygulanabilirliğinin
Değerlendirilmesi,” Tarih Okulu Dergisi, No.19, pp. 751-772, 2014.
[22] G. Altaş, “İslami Finans Sistemi”, Sermaye Piyasasında Gündem. No:
69, 2008, pp.18-30.
[23] A. Cihangir, “Faizsiz Bankacılık ve Kalkınma,” Kayıhan Press: İstanbul,
1986, pp. 258-259.
[24] E. İştar, “Katılım Bankacılığı Tarihi,” Fatih Üniversity, İstanbul, 2009,
pp.58.
[25] http://persiangulffund.com/gulf-area/gulf-cooperation-council/, date
accessed: 15.02.2015.
[26] Press Release, http://www.zawya.com/story/KFHResearch_High_
potential_for_Islamic_banking_in_Hong_Kong-ZAWYA2013010206
2214/, 2013.
[27] A. Özbek, “Sukuk ve Yeni Sermaye Piyasası Mevzuatına Göre Kira
Sertifikası Uygulaması, “ Vergi Sorunları Dergisi. No.311, 2014, pp. 84-
101. 3–8.
[28] Sukuk Report,” International Islamic Financial Market,” Fourth Edition,
November 2014. www.iifm.net/documents/iifm-sukuk-report, date
accessed: 10.01.2015.
[1] Serpam. “İslami Finans Kavramı, Ürünler, Dünya’da ve Türkiye’de
Gelişimi ve Geleceği,” İslami Finans, pp. 5, 7, 11. May 2013.
[2] E. Yılmaz, “Yeni Bir Finansman Araç Olarak Sukuk: Çeşitleri, Türkiye
Uygulaması ve Vergilendirilmesi,” Muhasebe ve Finansman Dergisi,
2014, pp. 81-100.
[3] M. Yardımcıoğlu, Y. Ayrıçay, İ. Sabuncu and İ. Gerekli, “Türkiye’de
Sukuk: Kira Sertifikaları,” pp. 199-221, 2014.
[4] M. Çanakçı, “Çok Kutuplu Dünyada İslami Finans Piyasalarının
Gelişimi ve Sukuk İhraçları,” Turkish Journal Of Islamic Economics,
Vol: 1, 2014, pp.43-59.
[5] M. A. Khan, Islamic Economics and Finance: Glossory. 2. Edition.
London: Routledge. 2003, pp. 129.
[6] I. Söyler, “Hukuki ve Mali Boyutlarıyla Sukuk (Kira Sertifikaları),”
2014, pp. 20-48. [7] H. Türker, “İslami Finans Sisteminde Finansal Aracılık”, Sermaye
Piyasası Kurulu Aracılık Faaliyetleri Dairesi, Ankara, Proficiency Study,
2010, pp. 8-11.
[8] C. J. Goldlewski, R. Ariss-Turk and L. Weill, “Sukuk vs. Conventional
Bonds: A Stock Market Perspective,” Cournal of Comparative
Economics, 2013, pp. 746.
[9] K. Dede, “Kira Sertifikaları,” TBB. www.tkbb.org.tr/haber-delay/sukukkenan-
dede-2013, date accessed. 31.12.2014, 2013, pp. 26.
[10] AAOIFI, Shari’a Standards For İslamic Financial İnstitutions, 1432H-
2010, pp. 307.
[11] A. Ausaf, “Contemporary Practises of Islamic Financing Techniques”,
Islamic Development Bank, Cidde, 1993, pp. 33-49.
[12] A. Tok, “İslami Finans Sistemi Çerçevesinde Sukuk (İslami Tahvil)
Uygulamaları, Katılım Bankaları Ve Türkiye Açısından
Değerlendirmeler,” proficiency study, 2009, pp.13-14, 56, 60-61.
[13] M. Güngören, “Katılım Bankalarında Menkul Kıymet İhracının
(Seküritizasyon) Yapısal Farklılık Gösteren Finansal Piyasalarda Uyum
Modellemesi: Sukuk Örneği (Unpublished work style),” unpublished,
Kadir Has University, İstanbul, 2011, pp. 96, 98, 99.
[14] M. Yardımcıoğlu, Y. Ayrıçay, and S. Coşkun, “İslami Finanas
Çerçevesinde Menkul Kıymetleştirilmiş Varlık; Sukuk Dünya ve
Türkiye Piyasası,” pp. 157-174, 2014.
[15] Securities Commission Malaysia (SC), 2009.
[16] AAOIFI, http://www.aaoifi.com, 2005.
[17] Asya Yatırım, http://www.asyayatirim.com.tr/AsyaYatirim_31_3_
sukuk, date accessed: 31.12.2014, 2014.
[18] Kuveyt Türk, www.kuveytturk.com.tr, date accessed: 13.02.2015, 2015.
[19] N. Ece, “Dünya’da Ve Türk Bankacılık Sektöründe İslam Bankalarının
Gelişimi”, Akademik Bakış Dergisi, Uluslar arası Hakemli Sosyal
Bilimler E- Dergisi, 2011, no.25, pp. 4.
[20] S. Koçak, “Sukuk: Çeşitleri, Piyasası ve Ülkemizdeki Gelişimi,” Vergi
Sorunları Dergisi. No. 283, 2014, pp. 177-186.
[21] A. İ. Özeroğlu,” Sukuk ve Türkiye’de Sukukun Uygulanabilirliğinin
Değerlendirilmesi,” Tarih Okulu Dergisi, No.19, pp. 751-772, 2014.
[22] G. Altaş, “İslami Finans Sistemi”, Sermaye Piyasasında Gündem. No:
69, 2008, pp.18-30.
[23] A. Cihangir, “Faizsiz Bankacılık ve Kalkınma,” Kayıhan Press: İstanbul,
1986, pp. 258-259.
[24] E. İştar, “Katılım Bankacılığı Tarihi,” Fatih Üniversity, İstanbul, 2009,
pp.58.
[25] http://persiangulffund.com/gulf-area/gulf-cooperation-council/, date
accessed: 15.02.2015.
[26] Press Release, http://www.zawya.com/story/KFHResearch_High_
potential_for_Islamic_banking_in_Hong_Kong-ZAWYA2013010206
2214/, 2013.
[27] A. Özbek, “Sukuk ve Yeni Sermaye Piyasası Mevzuatına Göre Kira
Sertifikası Uygulaması, “ Vergi Sorunları Dergisi. No.311, 2014, pp. 84-
101. 3–8.
[28] Sukuk Report,” International Islamic Financial Market,” Fourth Edition,
November 2014. www.iifm.net/documents/iifm-sukuk-report, date
accessed: 10.01.2015.
@article{"International Journal of Business, Human and Social Sciences:70137", author = "Ilhan Keskin and Hasan Bulent Kantarcı", title = "The Importance and Role of Sukuk Marketing as an Islamic Bond in the Economy", abstract = "In this study, one of the tools of Islamic financing
known as “Sukuk” a non-interest bearing investment which has
started to be implemented in Turkey and the world as a whole is
discussed. In order to increase the vitality and efficiency of the
economy, by taking lessons from the recent economic crisis new
developments in the banking and investment sector are being
expanded. The purpose of all investors is to obtain more revenue
through the use of capital. The inability of traditional investment
tools to meet the expectations of investors and the interest based
financial system where one investor benefits at the expense of
another there has been the need for a different, reliable and noninterest
bearing financial market that is consistent with the Islamic
rule. As a result an alternative and more reliable interest free
financing tool “Sukuk” rental certificates covering people who are
sensitive to Islamic rules, appeal to all segments, hidden remaining
capital that contributes to the economy, reduce disparities in income
distribution, common risk sharing system of profit and loss sharing
has emerged. Today, for the structural countries by examining the
state of the world market economy the applicability, enactment and
future issues associated with this attractive kind of Islamic finance
namely the “Sukuk” market has been explained.", keywords = "Islamic finance, Islamic markets, non-interest
bearing, rental certificates.", volume = "9", number = "6", pages = "1897-6", }