Abstract:

With the rapid growth of the volunteer-based Individual Pension System (BES) and obligation-based Automatic Participation System (OKS) funds, the need for new financial instruments has increased and alternative searches have emerged due to the lack of diversity and quantity of products in the interest-free capital markets. In this study, which aims to analyze the location of the interestless BES in the BES in Turkey, information was first given about the BES and the development and structure of the system in Turkey was mentioned. The study consists of two main sections, except the entry and the result. In the first section, the legislation of the interest-free BES discussed the nature of the funds and the transition to the automatic participation system. In the second part, the interest-free BES was analyzed in the framework of its application in Turkey. In this framework, the relationship with capital markets, enterprise capital and real estate investments, government contribution, lease certificates and participation accounts based on the BES and the fictional size of the place subject. The work emphasizes the solution of various structural problems in this sense by pointing out that the interest-free BES has significant potential for the Turkish economy and in particular the participation financial market. In particular, the current state suggests that the interest-free BES system, which is largely based on rental certificates, is diversified by various capital market instruments, such as real estate investment funds.

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