Analysis of İslamic finance instruments' position in financial markets

In this study, Islamic finance and its place in current markets are studied in this research and forecasts for future are analyzed. Alternative instruments of islamic finance are also discussed and their differences from the traditional instruments are presented. In the first chapter, islamic finance is discussed with its history, theoretical framework, its place in the world and Turkey. In particular, information on participatory banking, insurance (takaful), and islamic capital markets are presented in this context. Moreover, by providing the differences between islamic finance and traditonal finance, it is aimed to clarify the concepts. In the second chapter, sukuk certificate which is one of the most popular products of the islamic finance systems, is elaborated on by providing fundamental information on it. The differences between classic bonds and sukuk certificates are also presented. In the third chapter, some sukuk applications and the benefits of islamic finance institutions and traditonal financial institutions presented along with the ratio analyses of participatory banks in comparison with the rest of banking industry. Keywords: Islamic Finance, Participation Banking, Takaful, Islamic Capital Market, Suku