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ARTICLE · 10 APRIL 2017

Sukuk In Turkey: Fostering Diversity

Bezen & Partners
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Sukuk are Islamic investment certificates which entitle investors to an economic interest in the underlying assets supporting the issuance.

TurkeyFinance and Banking
Yeşim Bezen
Yeşim Bezen
Murat Soylu
Murat Soylu
Can Özilhan
Can Özilhan

Sukuk are Islamic investment certificates which entitle investors to an economic interest in the underlying assets supporting the issuance.

Sukuk (lease certificates) practice in Turkey

Lease certificates are currently regulated under the Communiqué on Lease Certificates (no. III-61) (the "Communiqué"). The Communiqué describes lease certificates as securities issued to finance an asset and which carry a right to receive a proportional share of the future income generated by that asset. Lease certificates can only be issued by special purpose asset lease vehicles which are subject to regulation and oversight as capital markets institutions.

A brief look at the different types of lease certificates addressed under the Communiqué follows:

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