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ARTICLE · 13 JUNE 2022

Green Sukuk Working Report

Pekin Bayar Mizrahi (in alliance with Norton Rose Fulbright)
Explore more from Pekin Bayar Mizrahi (in alliance with Norton Rose Fulbright)

On May 26, 2022, the Presidency of the Turkish Republic Finance Office published its Green Sukuk Working Report (the Report). The preparation of the Report was determined as an output within the scope of the...

TurkeyFinance and Banking
Utku Ünver
Utku Ünver
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THE PRESIDENCY OF THE TURKISH REPUBLIC FINANCE OFFICE PUBLISHED ITS GREEN SUKUK WORKING REPORT

On May 26, 2022, the Presidency of the Turkish Republic Finance Office published its Green Sukuk Working Report (the Report). The preparation of the Report was determined as an output within the scope of the works to be conducted on green sukuks for the purposes of developing the green finance ecosystem in Turkey and it was listed as an action point in the Green Deal Action Plan, Turkey's roadmap to guide green transformation and compliance with the European Union's Green Deal.

Sukuk Market in Turkey

The Islamic finance instrument “sukuk” is named as “lease certificate” in Turkey's capital markets. Lease certificate issuances started in Turkey in 2010 following the enactment of a Capital Markets Board (CMB) communiqué, through an issuance conducted by a participation bank. In 2012, Law numbered 4749 on the Regulation of Public Financing and Debt Management was amended

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