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Fıkhi Filtreleme Metodolojisi - Yeni Bir Fıkhi Yaklaşım
[Shari’ah Screening Methodology - New Shari’ah Compliant Approach”]

Author

Listed:
  • Yildirim, Ramazan
  • Ilhan, Bilal

Abstract

Bu çalışmanın ana amacı halihazırda çeşitli kurumlar tarafından uygulanan farklı metodolojilere dayanılarak elde edilmiş “fıkhi uygunluk kriterleri”ne yönelik eleştirilere dönük önerilerde bulunmaktır. Ayrıca, bu çalışma, İslamın birincil kaynaklarından (Kuran ve Sünnet) elde edilen bulgular ışığında, fıkhi uygunluk kriterlerini oluşturan metodolojilerde görülen farklılıkların standartlaştırılması için çözümler üretmeye çalışmaktadır. İslamın birincil kaynakları olan Kuran ve Sünnet’ten elde edilen güçlü çıkarımlar gösterir ki bir firmanın fıkhi uygunluk kriterlerine uygun olup olmadığı hakkındaki hakkaniyetli ve adil bir hüküm ancak o firmanın kontrolü altında olan içsel faktörlere bakılarak verilebilinir. Bu çalışma ayrıca fıkhi uygunluk kriterlerinin bir bütün halinde İslami finansin temel prensiplerini yansıtmasının önemine ve bu minvalde Bakara Suresi’nin 275’inci ayetinin ruhuna uygun olmasının elzemliğine vurgu yapmaktadır. Bu çalışmanın halihazirda var olan fıkhi uygunluk kriterlerindeki farklılıklardan harmoni/standartlaşma üretme potansiyeli ile İslami hassasiyetlere sahip yatırımcıları sağladığı bilinçlenme ve güvenilirlik sayesinde daha fazla yatırım yapmaya teşvik etmesi beklenmektedir. Bu çalışma kanıksanmış düşünme tarzlarının dışına çıkarak, fıkhi uygunluk kriterlerinin İslamın birincil kaynaklarına dayanılarak nasıl elde edilmesi gerektiği ana sorusuna kapsamlı bir şekilde cevap üretmeye çalışmaktadır. The purpose of this paper is to address to a long-standing criticism of the various Shari’ah screening methodologies implemented by Islamic index providers. This study aims to provide evidences derived from the Islamic sources (Qur’an and Sunnah) and offers a potential solution for the harmonization of Shari’ah screening methodologies. Strong evidences from the Qur’an reveal that the most righteous and fair judgment is provided when the only factors that are considered are the entirely endogenous factors. This study further emphasizes the importance of using a screening methodology that supports the main notions of Islamic finance as a whole, and adheres to the essence of the ayah (Al-Baqarah: 275). This study exhibits a potential towards the harmonization of Shari’ah screening methodologies which encourages the participation of Muslim investors by ensuring better awareness and confidence regarding stock investments. This paper fulfils an identified need to study how Shari’ah screening methodologies can be derived from the Islamic sources yet is based on “out-of-the-box” thinking.

Suggested Citation

  • Yildirim, Ramazan & Ilhan, Bilal, 2018. "Fıkhi Filtreleme Metodolojisi - Yeni Bir Fıkhi Yaklaşım [Shari’ah Screening Methodology - New Shari’ah Compliant Approach”]," MPRA Paper 90417, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:90417
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    References listed on IDEAS

    as
    1. Grais, Wafik & Pellegrini, Matteo, 2006. "Corporate governance and Shariah compliance in institutions offering Islamic financial services," Policy Research Working Paper Series 4054, The World Bank.
    2. Ivo Welch, 2011. "Two Common Problems in Capital Structure Research: The Financial‐Debt‐To‐Asset Ratio and Issuing Activity Versus Leverage Changes," International Review of Finance, International Review of Finance Ltd., vol. 11(1), pages 1-17, March.
    3. Khatkhatay, M. H. & Nisar, Shariq, 2007. "Shari[Ah Compliant Equity Investments: An Assessment Of Current Screening Norms," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 15, pages 48-76.
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    More about this item

    Keywords

    Fıkhi filtreleme; İslami Katılım Endeksi; Sermaye Piyasa Değeri; Toplam Borç; Kuran ve Sünnet;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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