Baku: Sukuk has become an important part of Trkiye's external financing strategy, Deputy Minister of Treasury and Finance of Trkiye Osman ‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬¦¡¬¦¡¬¡elik said during the session titled 'Purpose-Driven Sukuk - New Horizons for Development' held within the framework of the Annual Meetings of the Islamic Development Bank (IsDB) Group in Baku, APA reports.

According to Azeri-Press News Agency, Osman ‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬¦¡¬¦¡¬¡elik stated that Trkiye uses sukuk instruments to expand its investor base in international financial markets and create alternative sources of financing. He emphasized that since 2012, sukuk has been a permanent component of Trkiye's external financing strategy, with 12 international sukuk issuances attracting more than $23 billion from global investors.

Osman ‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬¦¡¬¦¡¬¡elik highlighted that sukuk has enabled Trkiye to strengthen ties with investors, particularly in the Gulf countries and the Asian region, who do not always participate in traditional financial instruments. He noted that one of their main objectives has been to diversify the investor base, and sukuk has played an important role in achieving this by strengthening Trkiye's position in international capital markets.

The deputy minister pointed out that the sukuk ecosystem in Trkiye is no longer limited to sovereign issuances. He mentioned that participation banks, corporations, and some public institutions have also successfully carried out sukuk issuances, indicating that the sukuk market in Trkiye has evolved into a deeper and more developed system.

Osman ‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬¦¡¬€š¬…¡¬‚¬¦¡¬‚¬Å¡¬¦¡¬‚¬Å¡¬€¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦¡¬€š¬…¡¬‚¬¦¡¬¦¡¬¦¡¬¦¡¬¡elik added that Trkiye has taken significant steps in the field of sustainable finance, introducing a sustainable finance framework in 2021. This framework enables the issuance of green, social, and sustainable financial instruments in line with international standards. In 2023, Trkiye successfully carried out its first green bond issuance.

He concluded by stating that sukuk will continue to serve as an important instrument for Trkiye's long-term financing, capital market development, and investor diversification in the future.