The emergence of the Turkish sukuk market (January 2015)
As one of the new MINT economies and the 17th biggest economy in the world,
the Republic of Turkey has in recent years begun utilising shari’a compliant
sukuk issuances as a means of attracting some much sought after capital
investment into the country, particularly from the Middle East where the demand
for shari’a compliant securities is far outstripping supply. Recent legislation in
the Republic of Turkey has broadened the number of sukuk structures that are
permitted, to allow the Turkish sukuk market to expand.
This briefing considers the new structures and the legislative framework.