Abstract:

The Islamic financial system, formed in accordance with the Islamic principles in general, and in particular the legal, economic and financial principles of Islam, has seen significant progress in recent years and has begun to be implemented in the Western countries. The financial and investment instruments in accordance with the Islamic principles have also developed parallel to these developments. The Sukuk, which is one of these, has been organized under the name of the Turkish Law "Cara Certificates" and has formed an alternative investment tool for the sections seeking interest-free investment. In this study will be examined the III-61.1 Rental Certificate Notice prepared by the Capital Markets Council (SPK) on the basis of the Capital Markets Act (SerPK). In the first part of the study, the concept of rental certificate will be discussed in terms of historical development in the world and in Turkey and the types of rental certificate will be explained. In the second section, the parties to the rental certificate, and the rights and debts of the parties will be examined. In the third and last section, the export of the rental certificates, the transaction at the stock exchange and the output stages will be discussed.

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