Execution of Tawarruq in today's financial markets and proposal for a digital Tawarruq platform

Tawarruq has been used in various fields of the Islamic Finance Sector, but the existing structures contain many problems in terms of sharia because they are organized and collusive. Besides, the need for Tawarruq transactions is generally imported from British and Malaysian origin stock exchange or commodity brokerage companies. In addition, today, the structures that provide Classic Tawarruq service for cash financing needs are very limited and need to be improved in terms of sharia and efficiency. In our thesis, the aim is to create a Digital Tawarruq platform that complies with international and local sharia standards, which is based on blockchain and smart contracts, the process is designed with digital commodities, where the parties can be integrated with a single contract, technologically efficient, transparent, auditable and also prioritizing competency and sustainability. In this context, broadly used such applications analysed and two different digital tawarruq model proposed which copmlied with Islamic finance principles. One model is for liquidity management need of Banks and the other model is cash finance needs for individuals and companies. Second structure operates in the real market system.