Lease Certificate (Sukuk) Application in Bangladesh:  Analysis From The Perspectıve of Islamic Law

Ahm Ershad Uddın; Ayhan Hira

Makale detayları

Lease Certificate (Sukuk) Application in Bangladesh: Analysis From The Perspectıve of Islamic Law

Yazarlar:

Ahm Ershad Uddın | Ayhan Hira

Yayıncı:

Kafkas University

Ana Başlıklar:

Din | Toplum ve Kültür Araştırmaları

Dergi:

Kafkas Üniversitesi İlahiyat Fakültesi Dergisi Vol.10 Issue 20, pp.577-601

Belge Tipi:

Makale

Yayın Tarihi:

7/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001282564

pISSN:

2148-8177

Anahtar kelimeler:

Özet:

 The Islamic finance sector is considered a global industry in terms of assets such as Islamic banks, Islamic bonds, Islamic investment funds, and Islamic insurance. Although the global financial crisis has been triggered since 2008, this sector is growing globally based on risk sharing, inclusion, and actual presence. The Islamic banking sector in Bangladesh has also witnessed strong growth in line with global trends due to the political support of the Bank of Bangladesh and strong public demand. In order to bring a new vision that includes meeting financing and investment needs and sharing profit and loss, Islamic finance has begun to be seen as an alternative less affected by the global financial crisis. Interest is prohibited in Islamic finance, and the Sukuk product, a lease certificate, has become an Islamic financial instrument in demand against the bond in Western banking. Due to its unique characteristics, Sukuk has been used to provide financing for the improvement of economic conditions in many countries and has now become one of the most widely spoken Islamic practices worldwide. Sukuk issuance has recently started in Bangladesh as part of this alternative investment tool. First, the 29th Capital Markets Regulatory Board announced the Sukuk of the Bangladesh Securities and Exchange Commission BMKBK in 2019. Then in 2020, the government published a guide on the issuance and management of Sukuk from the Finance Department of the Ministry of Finance. In addition, on December 23, 2020, Bangladesh issued its first independent investment, Sukuk, to raise cash for a project called Safe Water Supply for the Whole Country. The first Sukuk auction in the country was held on December 28, 2020, and conventional banks, Islamic banks, and other thirty-nine financial institutions participated in this auction, which attracted the attention of all Islamic scholars due to its many features under Islamic law. This research, which traces the developments in question, examines the concept of Sukuk and its types, examines the introduction of Sukuk to the market in Bangladesh, and which is the first in its field, deals with the objections made by Islamic scholars to the practice of Sukuk from the perspective of Islamic law, and aims to open the current situation of Islamic banking laws in the country to the discussion.

 The Islamic finance sector is considered a global industry in terms of assets such as Islamic banks, Islamic bonds, Islamic investment funds, and Islamic insurance. Although the global financial crisis has been triggered since 2008, this sector is growing globally based on risk sharing, inclusion, and actual presence. The Islamic banking sector in Bangladesh has also witnessed strong growth in line with global trends due to the political support of the Bank of Bangladesh and strong public demand. In order to bring a new vision that includes meeting financing and investment needs and sharing profit and loss, Islamic finance has begun to be seen as an alternative less affected by the global financial crisis. Interest is prohibited in Islamic finance, and the Sukuk product, a lease certificate, has become an Islamic financial instrument in demand against the bond in Western banking. Due to its unique characteristics, Sukuk has been used to provide financing for the improvement of economic conditions in many countries and has now become one of the most widely spoken Islamic practices worldwide. Sukuk issuance has recently started in Bangladesh as part of this alternative investment tool. First, the 29th Capital Markets Regulatory Board announced the Sukuk of the Bangladesh Securities and Exchange Commission BMKBK in 2019. Then in 2020, the government published a guide on the issuance and management of Sukuk from the Finance Department of the Ministry of Finance. In addition, on December 23, 2020, Bangladesh issued its first independent investment, Sukuk, to raise cash for a project called Safe Water Supply for the Whole Country. The first Sukuk auction in the country was held on December 28, 2020, and conventional banks, Islamic banks, and other thirty-nine financial institutions participated in this auction, which attracted the attention of all Islamic scholars due to its many features under Islamic law. This research, which traces the developments in question, examines the concept of Sukuk and its types, examines the introduction of Sukuk to the market in Bangladesh, and which is the first in its field, deals with the objections made by Islamic scholars to the practice of Sukuk from the perspective of Islamic law, and aims to open the current situation of Islamic banking laws in the country to the discussion.

 The Islamic finance sector is considered a global industry in terms of assets such as Islamic banks, Islamic bonds, Islamic investment funds, and Islamic insurance. Although the global financial crisis has been triggered since 2008, this sector is growing globally based on risk sharing, inclusion, and actual presence. The Islamic banking sector in Bangladesh has also witnessed strong growth in line with global trends due to the political support of the Bank of Bangladesh and strong public demand. In order to bring a new vision that includes meeting financing and investment needs and sharing profit and loss, Islamic finance has begun to be seen as an alternative less affected by the global financial crisis. Interest is prohibited in Islamic finance, and the Sukuk product, a lease certificate, has become an Islamic financial instrument in demand against the bond in Western banking. Due to its unique characteristics, Sukuk has been used to provide financing for the improvement of economic conditions in many countries and has now become one of the most widely spoken Islamic practices worldwide. Sukuk issuance has recently started in Bangladesh as part of this alternative investment tool. First, the 29th Capital Markets Regulatory Board announced the Sukuk of the Bangladesh Securities and Exchange Commission BMKBK in 2019. Then in 2020, the government published a guide on the issuance and management of Sukuk from the Finance Department of the Ministry of Finance. In addition, on December 23, 2020, Bangladesh issued its first independent investment, Sukuk, to raise cash for a project called Safe Water Supply for the Whole Country. The first Sukuk auction in the country was held on December 28, 2020, and conventional banks, Islamic banks, and other thirty-nine financial institutions participated in this auction, which attracted the attention of all Islamic scholars due to its many features under Islamic law. This research, which traces the developments in question, examines the concept of Sukuk and its types, examines the introduction of Sukuk to the market in Bangladesh, and which is the first in its field, deals with the objections made by Islamic scholars to the practice of Sukuk from the perspective of Islamic law, and aims to open the current situation of Islamic banking laws in the country to the discussion.

 İslâmî bankalar, İslâmî tahviller, İslâmî yatırım fonları, İslâmî sigorta gibi varlıklar açısından İslâmî finans sektörü küresel bir endüstri olarak kabul edilmektedir. 2008den bu yana küresel finansal kriz tetiklenmiş olsa da bu sektör hem risk paylaşımı hem de kapsayıcılık ve fiilî varlık temelinde küresel olarak büyümektedir. Bangladeşteki İslâmî bankacılık sektörü de Bangladeş Bankasının politik desteği ve güçlü kamu talebi nedeniyle küresel eğilimlere paralel olarak güçlü bir büyümeye tanık olmuştur. Finansman ve yatırım ihtiyaçlarını karşılamayı, kâr ve zararı paylaşmayı içeren yeni bir vizyon getirmek için İslâmî finans, küresel finansal krizden daha az etkilenen bir alternatif olarak görülmeye başlamıştır. İslâmî finansta faiz yasaklanmış, bir kira sertifikası olan sukuk ürünü ise Batı bankacılığındaki tahvile Bondbono mukabil talep edilen bir İslâmî finansal araç olmuştur. Sukuk, kendine has özelliklerinden dolayı birçok ülkede ekonomik koşulların gelişmesi için finansman sağlamak amacıyla kullanılmış ve şu anda dünya çapında en çok konuşulan İslâmî uygulamalardan biri haline gelmiştir. Bangladeşte de yakın zamanda bu alternatif yatırım aracı kapsamında sukuk ihracına başlanmıştır. İlk olarak 29. Sermaye Piyasası Düzenleme Kurulu 2019 yılında Bangladeş Menkul Kıymetler ve Borsa Komisyonunun BMKBK  sukukuna ilişkin bir duyuru yapmıştır. Ardından 2020 yılında hükümet, Maliye Bakanlığı Maliye Departmanından sukuk ihraçları ve yönetimi hakkında bir rehber yayınlamıştır. Ayrıca Bangladeş 23 Aralık 2020de Tüm Ülke İçin Güvenli Su Temini Safe Water Supply for the Whole Country adlı bir projeye nakit toplamak amacıyla ilk bağımsız yatırımı olan sukuku çıkarmıştır. Ülkede ilk sukuk ihalesi 28 Aralık 2020de gerçekleştirilmiş, İslam hukukuna uygun birçok özelliklerinden dolayı tüm İslâm âlimlerinin dikkatini çeken bu müzayedeye konvansiyonel bankalar, İslâmî bankalar ve diğer otuz dokuz finans kuruluşu katılmıştır. Söz konusu gelişmelerin izini süren ve Bangladeş özelinde alanında öncü olan bu araştırma, sukuk kavramını ve türlerini inceleyerek Bangladeşte sukukun piyasaya çıkışını ele almakta, İslâm âlimleri tarafından sukuk uygulamasına İslâm hukuku perspektifinden yapılan itirazları konu edinmekte ve ülkedeki İslâmî bankacılık yasalarının mevcut durumunu tartışmaya açmayı hedeflemektedir.

Makale detayları

Lease Certificate (Sukuk) Application in Bangladesh: Analysis From The Perspectıve of Islamic Law

Yazarlar:

Ahm Ershad Uddın | Ayhan Hira

Yayıncı:

Kafkas University

Ana Başlıklar:

Din | Toplum ve Kültür Araştırmaları

Dergi:

Kafkas Üniversitesi İlahiyat Fakültesi Dergisi Vol.10 Issue 20, pp.577-601

Belge Tipi:

Makale

Yayın Tarihi:

7/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001282564

pISSN:

2148-8177

Islamic Law

Finance

Islamic Bank

Sukuk

Bangladesh.

İslâm Hukuku

Sukuk

Finans

İslami Banka

Bangladeş.

Sayı

Makale detayları

Yazarlar: Ahm Ershad Uddın | Ayhan Hira

Yayıncı: Kafkas University

Ana Başlıklar: Din | Toplum ve Kültür Araştırmaları

Dergi: Kafkas Üniversitesi İlahiyat Fakültesi Dergisi Vol.10 Issue 20, pp.577-601

Belge Tipi: Makale

Yayın Tarihi: 7/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001282564

pISSN: 2148-8177

Sayı

Yazarlar:

Ahm Ershad Uddın | Ayhan Hira

Yayıncı:

Kafkas University

Ana Başlıklar:

Din | Toplum ve Kültür Araştırmaları

Dergi:

Kafkas Üniversitesi İlahiyat Fakültesi Dergisi Vol.10 Issue 20, pp.577-601

Belge Tipi:

Makale

Yayın Tarihi:

7/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001282564

pISSN:

2148-8177