THE LEASE CERTIFICATES UNDER THE CAPITAL MARKETS BOARD OF TÜRKİYE’S COMMUNIQUE NUMBERED III-61.1

Abstract

The Islamic financial system, which was shaped in accordance with Islamic principles in the legal, economic and financial principles of Islam, has developed significantly in recent years and has begun to be implemented in western countries as well. Finance and investment instruments in line with Islamic principles have also developed in parallel with these developments. One of them, sukuk, is issued under the name of "lease certificates" in Turkish Law; constituted an alternative investment tool for those who demand interest-free investment. In this study, the Lease Certificates Communiqué numbered III-61.1 prepared by the Capital Markets Board of Türkiye based on the Capital Markets Code will be examined.