TAWARRUQ USED IN ISLAMIC BANKING AND NOWADAYS PRACTICES

Abstract

Tawarruq; is a similar and modern one to the "Vefân beyi 'process. "Vefân beyi '" is a process that has been invented to be distant from interest, conforms to the rules as a form, and does not conform to the rules as a purpose. The application of Teverruğ in some banks is as follows; The person who needs the money comes to the bank, The bank buys the copper from the foreign market (for example London stock exchange) for this purpose, then sells the copper cheaply, the difference is the loss of the person, but it is getting the money he wants as a futures. This study is based on the assumption that Teverruk used in Islamic Banking has been converted into interest rate in today 's applications. By giving examples from the current applications of the Participation Banks, our thoughts on the subject have been examined and evaluated, the definition of teverruk process is made and Tawarruq has been examined in terms of fiqh. Tawarruq varieties such as Individual Tawarruq, Reverse Tawarruq and Organize Tawarruq are briefly described under the heading and necessary rules have been given for Tawarruq to be valid. examples of the Organize Tawarruq process used in today's Participation Banking are given. The differences between the teverruk process and the organized Tawarruq process are explained by examplesIn the last section; It has been evaluated that Tawarruq has been removed from its true meaning and made it an interest rate