As one of the new MINT economies and the 17th biggest economy in the world, the Republic of Turkey has in recent years begun utilising shari’a compliant sukuk issuances as a means of attracting some much sought after capital investment into the country, particularly from the Middle East where the demand for shari’a compliant securities is far outstripping supply.

Recent legislation in the Republic of Turkey has broadened the number of sukuk structures that are permitted, to allow the Turkish sukuk market to expand. For the first time these new structures will permit corporates and other non-financial institutions to issue sukuk and may attract investment into areas such as infrastructure projects, which is becoming one of the key areas of focus for the Turkish government. This article considers the new structures and the legislative framework.