BASIC PRINCIPLES OF INTEREST AND INTEREST-FREE FINANCE TODAY

Öz

Traditional interest-based financial systems, while crucial for economic growth, introduce significant risks and contribute to the gap between financial markets and the real economy. In contrast, interest-free financial systems, which avoid interest and speculative activities, offer potential advantages in minimizing risks and promoting financial stability. The Islamic financial system, grounded in Sharia principles, utilizes profit-sharing, leasing, and sales techniques instead of interest, and is gaining traction worldwide for its resilience against financial crises and its promotion of social and economic justice. The study explores the foundational principles and global perspectives of interest-free financial systems. The research examines the historical development of banking systems in Turkey and globally, highlighting the rise of participation (Islamic) banking. Participation banks operate on a profit-sharing basis, providing an inclusive financial environment for interest-sensitive individuals. Despite their potential, more research is needed to address the inherent challenges and further develop the interest-free financial system.

Anahtar Kelimeler

• Banking
• Interest-Free Banking
• Participation Banking
• Interest-Free Financial System

GÜNÜMÜZDE FAİZ VE FAİZSİZ FİNANSIN TEMEL PRENSİPLERİ

Öz

Geleneksel faiz bazlı finansal sistemler, ekonomik büyüme için önemli olmakla birlikte, önemli riskler doğurur ve finansal piyasalar ile reel ekonomi arasındaki farkın artmasına katkıda bulunur. Buna karşılık, faizsiz finansal sistemler, faiz ve spekülatif faaliyetlerden kaçınarak, riskleri en aza indirme ve finansal istikrarı teşvik etme potansiyeli sunar. Şeriat ilkelerine dayanan İslami finans sistemi, faiz yerine kâr paylaşımı, kira ve satış tekniklerini kullanır ve finansal krizlere karşı dayanıklılığı ve sosyal ve ekonomik adaleti teşvik etmesi nedeniyle dünya çapında ilgi görmektedir. Çalışma, faizsiz finansal sistemlerin, özellikle İslami finansın temel ilkelerini ve küresel perspektiflerini araştırmakta ve Türkiye'deki ve dünyadaki bankacılık sistemlerinin tarihsel gelişimini inceleyerek, katılım (İslami) bankacılığının yükselişini vurgulamaktadır. Katılım bankaları, faiz hassasiyeti olan bireyler için kapsayıcı bir finansal ortam sağlayarak, kâr paylaşımı esasına göre çalışır. Potansiyellerine rağmen, bu sistemlerin içsel zorluklarını ele almak ve faizsiz finansal sistemin daha da geliştirilmesi için daha fazla araştırma gereklidir.

Anahtar Kelimeler

• Bankacılık
• Faizsiz Bankacılık
• Katılım Bankacılığı
• Faizsiz Finans Sistemi

Kaynakça

1. Avcu, E. C. (2015). Participation Banking and Sukuk Models. Master's Thesis. Isparta: Süleyman Demirel University.
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3. Akten Çürük, S. (2013). Development of Islamic Finance in Turkey, Existing Problems, and Solution Proposals. PhD Thesis. Selçuk University, Institute of Social Sciences.
4. Güney, N. (2013). Gharar in Islamic Law of Obligations, Special Reference to Contract of Sale. PhD Thesis. Necmettin Erbakan University, Institute of Social Sciences.
5. Güngör, K. (2015). An Analysis of the Applicability of the Interest-Free Banking Model in Malaysia in Turkey. Ayrıntı Journal, 3(29).
6. Haçkalı, A. (2010). Interest, Credit, and Financial Transactions (Unit 8). Current Fiqh Problems (1st ed.). Eskişehir: Anadolu University Publications.
7. Sümer, G., & Onan, F. The Emergence of Interest-Free Banking in the World, The Development Process of Participation Banking in Turkey, and Its Differences from Conventional Banking. Journal of the Faculty of Economics and Administrative Sciences, Gazi University, 17(3), 296-308.
8. Sürücü, Ş. (2018). Islamic Finance: Comparison of Malaysia and Turkey. Master's Thesis. Selçuk University, Institute of Social Sciences.

9. TDV "Interest" Islamic Encyclopedia https://islamansiklopedisi.org.tr/faiz Participation Banks Association of Turkey (2017). TKBB. Access address: http://www.tkbb.org.tr/Documents/Yonetmelikler/TKBB_2017_TR-Final.pdf
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