Past and present of sukuk transactions as a financial instrument in participation banking and accounting registration examples

The developing and transformed world countries have increased resource demands of the countries, and financial markets are formed with continuously changing personal needs, financial markets have occurred and financial market vehicles have emerged. In the 1970s, the rise in oil and dollar prices enriched oil-rich countries in the Middle East. Investors from the prosperous Middle Eastern countries prefer their sources of financing methods for their beliefs to deposit their resources into different countries. In this case, Sukuk becomes one of the tools of the capital market that demonstrates the export process in accordance with Islamic principles and rules. In the study, Islamic bonds financing models are a financial instrument in participation banking as a financial instrument, the recording of the sukuk transactions and accounting records are explained. Conceptual frame of the financing model of sukuk, the export process is described with examples in Turkey.