Evaluation of modern murabaha practice in participation banks; Problems and solution suggestions

This study evaluates the use of modern murabaha through participation banks in the light of Islamic law. It emphasizes that the differences between modern and classical forms of murabaha are an important factor for a better understanding and development of modern murabaha through participation banks. It is stated that the application of murabaha is an important issue for Islamic finance and participation banking. It shows that modern murabaha is ideal for an interest-free economy model and that this model can serve as an alternative to the conventional banking system. The study states that while participation banking development in Turkey is rapidly progressing, suspicions, hesitations, and objections around participation banking are spreading rapidly, consciously or unconsciously. It is noted that these suspicions and hesitations generally stem from a lack of knowledge. The study explains that these suspicions and hesitations are unfounded, within the framework of jurisprudential evidence. The dossier deals with the jurisprudential bases and evidence of murabaha applications in detail and provides jurisprudential bases for the permissibility of these applications. In addition, the dossier provides suggestions on what needs to be done for murabaha applications to meet the requirements of today's conditions. It shows that there is a need for more jurisprudential knowledge and understanding about monetary transactions based on Islamic principles. It is emphasized that participation banking and modern murabaha applications need to be better understood in order to better understand the potential of the application of modern murabaha in this area and to be able to innovate more in this area. Keywords: