On ٢٤.٠٢.٢٠٢٢, the CMB published the "Green Debt Instrument, Sustainable Debt Instrument, Green Lease Certificate and Sustainable Lease Certificate Guidelines" in order to encourage the financing of investments aimed at adaptation to climate change and mitigation of climate change-related risks and related projects that will contribute to environmental sustainability.

With the decision taken by the Capital Markets Board Decision Making Body at its meeting dated ٢٩.٠٧.٢٠٢١ and numbered ٣٨/١١٥٥, the Fund Guide was amended and the market share was expanded by including lease certificates in ٨٠% of the Debt Securities Umbrella Fund

With the announcement numbered ٢٠٢١/٧٦, published by Borsa Istanbul on ٠٩.١١.٢٠٢١, "Start of Calculation of BIST Participation Indices and Amendments to the Basic Rules of BIST Market Value Weighted Equity Indices Regarding BIST Sustainability Index", it has been decided that BIST Participation All, BIST Participation ١٠٠, BIST Participation ٥٠, BIST Participation ٣٠ and BIST Sustainability Participation indices will be calculated by Borsa Istanbul as of ١٢.١١.٢٠٢١.

On ٠٢.٠٨.٢٠١٨, Borsa Istanbul A.Ş. launched the "Committed Transactions Market" where lease certificates are traded. Thus, a participation-based repo and reverse repo market was established in Türkiye.

With the Law No. ٦٧٢٨ published in the Official Gazette dated ٩.٨.٢٠١٦, regulations were made on corporate tax, VAT, stamp tax and fees in relation to the tax burden differences between lease certificates and other capital market instruments and the problems encountered.

On November ٢٨, ٢٠١٤, Borsa Istanbul opened the Islamic Development Bank's (IDB) approximately USD ٦ billion worth of sukuk traded abroad for trading among qualified investors in the Debt Securities Market Outright Purchases and Sales Market.

The procedures and principles regarding lease certificates and asset leasing companies (ALCs) have been re-regulated by the CMB's ‘Communiqué on Lease Certificates’ numbered (III-٦١.١). The Communiqué was published and entered into force in June ٢٠١٣ and five types of lease certificates were defined.

The principles regarding the trading of lease certificates at BIST are set forth in BIST Circular No. ٤٠١ dated ٠٦.٠٩.٢٠١٢.

On October ١٧, ٢٠١٢, in the official letter titled "Acceptance of Lease Certificates in the Interbank Money Market", it was decided that lease certificates issued domestically and internationally by HMVKŞ will be considered in the same scope as DIBS and Eurobonds issued by the Undersecretariat of Treasury and will be included among the securities accepted as collateral in the Interbank Money Market (IMM).

In ٢٠١٢, the Undersecretariat of Treasury started issuances in accordance with Article ٧/A of the Law No. ٤٧٤٩ on the Regulation of Public Finance and Debt Management, which resulted in the issuance of USD ١.٥ billion in lease certificates in foreign markets on September ٢٦, ٢٠١٢ and TL ١.٦ billion in domestic markets on October ٣, ٢٠١٢.

With the legal regulations in January ٢٠١١, tax exemptions for sukuk were regulated similar to the tax exemptions for conventional bonds.

With the "Communiqué on Principles Regarding Lease Certificates and Asset Leasing Companies", the Capital Markets Board (CMB) established the legal basis for financial institutions and companies in Türkiye to issue sukuk and regulated principles regarding establishment activities of Asset Leasing Companies (ALC).

Türkiye's and Continental Europe's first sukuk transaction was launched in ٢٠١٠ by Kuveyt Türk Participation Bank with a value of USD ١٠٠ million with a maturity until ٢٠١٣ and a fixed yield of ٥.٢٥%.