AS A NEW FINANCIAL INSTRUMENT SUKUK (LEASING CERTIFICATE) AND ITS ACCOUNTING

Sukuk which provides an income by enabling the right of property on a real asset, is a new and increasingly demanded way of investment. in this study the definition and variations of sukuk is described and its difference from conventional bonds is stated. in addition to this, the place of noninterest finance sector finance sector consequently the potantial demand to sukuk instrument is clarified. after that the history of sukuk, the secondary market and sukuk index are discussed. later on fixed income securities in turkey’s capital market, which are similar to sukuk, is defined and legal arrangements enabling the entrance of sukuk into turkish capital market are described. as far the practice chapter accounting of sukuk operations were given in terms of parent and asset renting companies.