Sukuk aplications and developments in the world and Turkey

The banking sector had been seeking out the new product according to people's needs from its existence and the conventinal banking had been maintaning its existance in a long time alonely.The participation banks had been undertaking the task of the fulfilling the investing demands of the people stayed away from the interest in the Turkey.The participation banks had been increasing the costumer potantial by proving the variety of financial products towards the needs.Sukuk named the "lease certificate" in the Turkey,had been making demand in the market of Islamic Country extremely a lot.Saving which is held under the pillow because of the precision of the interest contribute to development of the economic life with the products of the participation banks. Sukuk which come into prominence inside in financing product which is interest free is an investment instrument reached the important exportation number in the worldwide.In this fact,at the this study had been examined to modifications on the economy which is created by the Sukuk that handle with the growing importance from past to nowadays in the Turkey and World markets.Besides informing about the sukuk which is one of the most useful product in the Islamic market,in the basic goal on this study developing the suggestions for solutions for problems encountered in the sukuk markets on the our country and may contribute to be taken the steps towards its being developed by examining the sukuk applications and development in the worldwide and our country. Main problems which are encountered the sukuk applications on the Turkey having been detected in the light of qualitative and quantitative data obtained in the study,recommendations for Turkey sukuk market had been tryed to developed by framework of the result obtained.It is seen possible that our country sukuk market increase its portion on the world sukuk market as a result of taking into account of suggestions together with rising of sukuk exportation value of public and institutions. Key words: Sukuk, Islamic Finance, Participation Banking, Lease Certificate