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All Journal Journal of Islamic Economics and Finance Studies
Gürler, Safiye Sena Baytan
Unknown Affiliation
Religion Economics, Econometrics & Finance Social Sciences

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Use of Istijrar Contract as Financing Model for Islamic Banks in Türkiye Gürler, Safiye Sena Baytan; Kayadibi, Saim
Journal of Islamic Economics and Finance Studies Vol 6 No 1 (2025): JIEFeS, June 2025
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v6i1.10646

Abstract

This research examines the istijrar contract as a potential solution to the operational and Shariah compliance challenges commonly encountered in murabahah-based financing, particularly in scenarios involving continuous and repeated purchases. Such flexible purchasing arrangements often generate complexities and elevate compliance risks. To address these issues, the study adopts a structured literature review methodology, implemented in three stages. First, it reviews scholarly debates concerning the Shariah compliance of the istijrar contract. Second, it assesses existing global practices. Third, it analyzes Turkish practices and legal regulations, critically examining the discussions and models at each stage to identify the most suitable adaptation for implementation in Türkiye. Key findings highlight the absence of standardized frameworks in both global and Turkish contexts, along with the limited practical application of istijrar in Türkiye’s Islamic banking sector. In response, this research synthesizes these insights to develop a structured and independent istijrar model specifically tailored to the Turkish Islamic banking environment. It is anticipated that this model will enable Islamic banks to more effectively finance customers engaged in production and trade activities, thereby supporting the growth of the real economy.
Co-Authors Saim Kayadibi, Saim