A comparative analysis of the current finance models of infrastructure investments and the sukuk finance model

Today, highways, airports, bridges, ports, subways, railways, hospitals, social buildings, schools, drinking water lines and power plants, etc. many investments are evaluated within the scope of infrastructure investments. For this reason, infrastructure investments have a critical importance in the economic and social development of states. The fact that large amounts and long-term infrastructure investments are met with limited funding sources poses a significant problem for countries. In this direction, many financing models have been developed in order to finance infrastructure investments in developed or developing countries. In the first part of this study, 30 different interest and/or interest-free financing models used in infrastructure investments are examined in detail in order to determine the current situation and problems in the world and in our country. In the second part of the study, the current situation and the laws in force on the use of Sukuk, which is our focus among interest-free financing models, for the financing of public infrastructure projects in Turkey were examined. In the light of these data, the problems encountered in the application of Sukuk in our country in accordance with İslamîc principles have been determined. As a result of the comparative analysis method followed in our study and than in-depth interviews that followed, how the sukuk financing models that can be realized in our country by the public are emphasized. At this point, the focus was on the Turkey Wealth Fund (TWF) and it was concluded that the proposed sukuk financing models could be used by TWF for the financing of public infrastructure projects.