Abstract:

The purpose of this study is to investigate whether participating banks operating in accordance with interest-free financial principles can resolve disputes between themselves and their stakeholders, without violating the legislation, through arbitration according to Islamic law and reveal the benefits of arbitration. The analysis of the subject is made from the point of view of Islamic law and Turkish law. According to the results of the investigation, it has been found that in both legal systems the arbitration in matters under the will of the parties is carried out. In accordance with the provisions, participating banks must include the arbitration conditions in their contracts or regulate the arbitration agreement in order to be able to arbitrate in the disputes that arise or arise. If the parties recognize to the judges the power to resolve disputes in accordance with the rules of justice and law, it does not appear to be an obstacle to resolve disputes in accordance with the Islamic law. Another conclusion from the study is that the arbitration process is simple, fast, cheap, secret, and that the parties have the right to be elected by the judge and the law, making it attractive for the arbitration to be preferred.

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