Using Islamic Finance for Infrastructure Projects in Turkey: A Study of the Potentials, Challenges and Current Situation
Chapter from the book:
Kırcı Altınkeski,
B.
&
Buğan,
M.
F.
(eds.)
2023.
Evolution of Financial Markets: Banking, Risk Management, Markets and Institutions.
Synopsis
Purpose: This study aims to explore the potentials, challenges and current situation of using Islamic finance for infrastructure projects in Turkey.
Method: The study utilizes a combination of literature review and analysis of official data to provide an overview of the Islamic finance industry in Turkey.
Findings: The study finds that while the Islamic finance industry in Turkey is still in its initial stages of development, it has been growing rapidly in recent years. The study also finds that the main drivers of the development of the Islamic finance industry in Turkey are the high demand for sharia-compliant financial products and the government's efforts to promote the industry. The main challenges facing the industry are the lack of awareness and understanding of Islamic finance among the public and the lack of a comprehensive legal framework.
Discussion: The study concludes that Islamic finance can provide an alternative source of funding for infrastructure projects in Turkey.
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This work is licensed under a Creative Commons Attribution 4.0 International License.
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Copyright (c) 2023 Emine Beyza Satoğlu- Batuhan Medetoğlu- Selahattin Bektaş- Meltem Keskin- Fikri Kaplan- Akile Demirsıkan- Yavuz Demirdöğen- Remzi Gök- İsmail Tuna- Mevlüt Camgöz- Mehmet Göl- Mehmet Bükey- Emrah Keleş- Gizem Vergili- Hasan Alpago- Adem Ruhan Sönmez- Muhammed Emin Durmuş- Bilal Akkaynak; Buket Kırcı Altınkeski- Mehmet Fatih Buğan