Evaluation of selected financial markets in terms of Islamic Law

In this study, the suitability of today's modern financial instruments "Collaboration System, Stock Exchange and Digital Currency" according to the principles of Islamic Law has been examined. Various suggestions have been given on what kind of corrections can be made in this direction and how they can be made in accordance with Islamic law. As in the world, in our country, bonds and treasury bills are interest-based in the debt instruments market, which are one of the general preferences of investors, so the fact that investment in this direction is not allowed is stated in Islamic Law. Similarly, if the field of activity of a company whose shares are traded on the stock exchange is related to the affairs that Islam makes haram, it has been explained that buying the shares of that company or becoming a partner of that company is also not in accordance with Islamic law. However, if their activities are in accordance with Islamic law, do not make transactions with interest, and, he does not trade in haram goods (alcohol, interest, drugs, pork, etc.), it has been stated that it may be in accordance with Islamic law to buy the shares of this company and become a partner of this company. However, there is still speculation, deception, manipulation, etc. in the stock market. since there may be such situations, some experts believe that it is necessary to stay away from the stock market. As a result of the evaluations made in this thesis, it is thought that it is appropriate to establish a separate stock exchange that operates within the framework of Islamic law. There are views that such currencies are not permissible on the grounds that there are various problems with digital currencies such as uncertainty, excessive volatility, security gaps and lack of authority. However, some experts who state that digital currencies can be more reliable and low-cost than the current financial system state that digital currencies will be permissible if certain deficiencies (providing state authority, controlling volatility, etc.) are eliminated. In the "Collaboration System", which is the last research topic of our thesis, it is stated that some issues such as the organization fee charged by the companies and working with other banks other than participation banks are undesirable. Finding solutions to all these identified problems will make the collaboration system more secure.