Electronic Product Certificate (ELÜS) Purchase Financing

An Electronic Product Certificate (ELÜS) is an electronic document issued to represent products stored in licensed warehouses.

An ELÜS refers to the electronic record created by licensed warehouse operators on a database/platform established and maintained by the Central Registry Agency (MKK), in accordance with the Electronic Registration Rules. Unless otherwise specified in the legislation, an ELÜS issued within the Central Registry System represents the product in the exact same quantity, type, class, and quality. Products represented by ELÜS are under the assurance of the licensed warehousing system, which is regulated and supervised by the Ministry of Trade.

ELÜS Purchase Financing is a Murabaha-based fund allocation product provided by our bank in TRY, aimed at enabling our customers to purchase agricultural products that are stored in licensed warehouses and represented in an electronic environment.

The Importance of ELÜS as an Investment Tool

As an investment tool, the Electronic Product Certificate (ELÜS) provides numerous advantages for financial markets and investors, including direct access to agricultural products, the opportunity to benefit from price fluctuations, protection against inflation, and the ability to use it as financial collateral. As an instrument based on agricultural products, ELÜS plays a critical role in both investment diversification and the development of the agricultural sector.

Features and Advantages

 Available to both individual and corporate customers.

 A specific agricultural product stored in licensed warehouses is purchased directly by our bank and sold to our customers on a deferred payment basis.

 Financing is carried out using the Murabaha model, in accordance with the principles of Participation Banking.

 The maximum maturity for this financing is 12 months.

Which Products are Covered by ELÜS Purchase Financing?

All products traded in the ELÜS market are covered under ELÜS Purchase Financing.

Disbursement Phase

 Customers may apply to our bank for ELÜS Purchase Financing. Once the application is received, the allocation process is initiated. For customers with approved allocation, the signed ELÜS Purchase Form is collected, and the project is processed.

 With the ELÜS Purchase Form, our customer acknowledges and declares that they will use the financing amount transferred to their account solely for the purchase of ELÜS and will not use these funds for any other purpose.

 The financing amount is paid into our customer's investment account as an advance.

 Using the funds paid into their account, our customer submits a purchase order for ELÜS of the type and kind specified in the purchase form through the Product Market Intermediary Institutions (ÜPAK) with which our Bank has an agreement.

For detailed information and to apply, you may visit your nearest branch.