Introduction to the Savings Finance as an Alternative Finance Model

Murat Ustaoğlu () and Ferda Yerdelen Tatoğlu ()
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Murat Ustaoğlu: İstanbul, Türkiye and İstanbul University
Ferda Yerdelen Tatoğlu: Emlak Katılım Tasarruf Finansman, İstanbul University

Chapter 1 in The Demand for Alternative Finance, 2025, pp 1-16 from Springer

Abstract: Abstract This study examines the Savings Finance model, which has developed as an alternative to the conventional finance systems in Turkey, based on interest-free finance principles in its theoretical, practical, and social dimensions. It functions as an interest-free financing model, offering services through a fund pool that is established by participants’ savings. This fund is utilized to meet fundamental needs, such as housing, business premises, and vehicles. The model also provides a comprehensive solution for certain segments of society that eschew interest-based transactions due to religious sensitivities, while concurrently ensuring that financial costs remain lower in comparison to traditional credit systems. The research analyzed survey data from participants residing in various regions of the country to assess the community’s sensitivity to interest ban, awareness of the sector, and level of trust. The findings indicate that religious values play a significant role in financial preferences; however, the sector’s recognition and reliability vary across demographic groups.

Keywords: Alternative Finance; Savings Finance; Financial Inclusion • ROSCAs; Theory of Planned Behavior; Public Awareness (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-01765-9_1

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DOI: 10.1007/978-3-032-01765-9_1

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