Fonet Bilgi Teknolojileri (FONET) shares are on Borsa Istanbul's participation index list (BIST Participation All Shares) for the period from October 1, 2026 to April 30, 2027. Source: Borsa Istanbul's list of participation index constituents, Oct 1, 2026. The shares are also in the BIST Participation 100 index.
Dated October 17, 2026No. SGL-2026-6A-FONET
Based on the financial statements for the first half of 2026, the excluded income ratio depends on the company's declaration: the proven amount alone gives a ratio below the threshold, and the cautious upper bound is above it.
Upper bound. TRY 15,987,799 that is proven not to count was deducted from the debt numerator (source: Note 9). Of the lease liabilities shown on the balance sheet, TRY 17,789,151 are debts that do not count under TKBB Guideline 6.2, so they were deducted from the debt numerator (source: balance sheet, page 6). As a precaution, financial liabilities other than leases shown on separate lines outside the main debt total were added once, after they were confirmed against their section total. This is an assumption: it is not proven that these items carry interest. Because extra items are included, the ratio is an upper bound for the items shown in the financial statements. Note 9: “Ödenecek vergi ve fonlar” TRY 15,987,799: not counted (proven). Notes that could not be used: Note 6 (Short-term borrowings): the note's amounts could not be matched to this item automatically. Note 6 (Current portion of long-term borrowings): the note's amounts could not be matched to this item automatically. Note 6 (Long-term borrowings): the note's amounts could not be matched to this item automatically. The ratio is in the range 0.00% to 1.77%; both bounds give the same result.
Breakdown from the notes
Item, as written in the company's report
Amount (TRY)
Class
Basis
Ödenecek vergi ve fonlar · Other payables, note 9
15,987,799
not counted (proven)
TKBB Guideline 6.2
KAFİF declaration 1.1% (first half 2026) · Sağlama range 0.0% to 1.8% (first half 2026) · the declaration is inside the range · View the form on KAP
Source: company financial report, first half 2026 statements · Jun 30, 2026
RatioInterest-bearing cash and securities / total assets
Upper bound. Asset items that may count as interest-bearing (line 5F of the KAFİF form) were taken in full from the public statements. Assets proven not to count (line 5G of the KAFİF form) were deducted as far as the notes prove them; items that could not be separated stayed in the numerator, as a precaution. The ratio is therefore an upper bound for the items shown in the financial statements. Note 7: “Borsada işlem gören hisse senetleri” TRY 80,933,057: undetermined, kept in the upper bound. Note 5: “Kasa” TRY 294: not counted (proven); “Bankalar / - Vadesiz mevduat” TRY 23,717,716: not counted (proven); “Bankalar / - Vadeli mevduat (*)” TRY 46,337,320: undetermined, kept in the upper bound. The ratio is in the range 0.00% to 5.48%; both bounds give the same result.
Breakdown from the notes
Item, as written in the company's report
Amount (TRY)
Class
Basis
Borsada işlem gören hisse senetleri · Financial investments, note 7
On the KAP form this item is titled “Katılım Finans İlkelerine Uygun Olmayan Gelir”, which means income not in line with participation finance principles.
The measurement is a range. The lower bound counts only the amounts that the statements and notes prove; the upper bound also counts, as a precaution, every item that could not be proven. The threshold falls inside this range, so the outcome depends on the company's KAFİF declaration.
Measured on the items we can calculate. Income items that may count as excluded (line 4C of the KAFİF form) were taken in full from the public statements. Income that the notes prove does not count (line 4D of the KAFİF form) was deducted. Items that could not be separated stayed in the numerator, as a precaution. For these income lines (line 4C), the ratio is an upper bound. Excluded income from business activities (line 4B of the KAFİF form) does not appear in the financial statements; it is only in the company's KAFİF declaration on KAP. This measurement sets it to 0. If there is a declaration, the record shows it separately, with a link. Note 21: “Teşvik gelirleri (*)” TRY 28,225,155: not counted (proven); “Alım iade gelirleri” TRY 255,271: undetermined, kept in the upper bound; “Kur farkı geliri” TRY 93,038: not counted (proven); “Sigorta hasar gelirleri” TRY 77,275: not counted (proven); “Dava karşılık iptali (Not 15)” TRY 9,836: not counted (proven); “İptal edilen izin karşılığı gideri” TRY 0: undetermined, kept in the upper bound; “Reeskont gelirleri” TRY 0: undetermined, kept in the upper bound; “Diğer” TRY 1,610,335: undetermined, kept in the upper bound. Note 23: “Faiz gelirleri” TRY 13,343,502: counted in the ratio (proven); “Kur farkı gelirleri” TRY 752,021: not counted (proven). Note 22: “Menkul kıymet gerçeğe uygun değer artışları” TRY 26,324,719: undetermined, kept in the upper bound; “Menkul kıymet satış karları” TRY 8,192,225: undetermined, kept in the upper bound. The ratio is in the range 2.33% to 8.69%; the outcome depends on the company's declaration.
Breakdown from the notes
Item, as written in the company's report
Amount (TRY)
Class
Basis
Teşvik gelirleri (*) · Other income from operating activities, note 21The company's note says: “Grup’un teşvik gelirleri ağırlıklı olarak 5746 sayılı Araştırma Geliştirme ve Tasarım Faaliyetlerinin Desteklenmesi hakkında kanun kapsamında yürütülen Ar-Ge, yenilik ve tasarım projeleri ile ilgili araştırmalarda kullanılmak üzere ithal edilen eşya, gümrük vergisi ve her türlü fondan, bu kapsamda düzenlenen kâğıtlar ve yapılan işlemler damga vergisi ve harçtan müstesna gelirlerden oluşmaktadır.”
28,225,155
not counted (proven)
TKBB Guideline 4.2
Alım iade gelirleri · Other income from operating activities, note 21
255,271
undetermined, kept in the upper bound
Kur farkı geliri · Other income from operating activities, note 21
93,038
not counted (proven)
TKBB Guideline 4.2
Sigorta hasar gelirleri · Other income from operating activities, note 21
77,275
not counted (proven)
TKBB Guideline 4.2
Dava karşılık iptali (Not 15) · Other income from operating activities, note 21
9,836
not counted (proven)
TKBB Guideline 4.2
İptal edilen izin karşılığı gideri · Other income from operating activities, note 21
0
undetermined, kept in the upper bound
Reeskont gelirleri · Other income from operating activities, note 21
0
undetermined, kept in the upper bound
TKBB Guideline 4.1
Diğer · Other income from operating activities, note 21
1,610,335
undetermined, kept in the upper bound
TKBB Guideline 4.1
Faiz gelirleri · Finance income, note 23
13,343,502
counted in the ratio (proven)
TKBB Guideline 4.1
Kur farkı gelirleri · Finance income, note 23
752,021
not counted (proven)
TKBB Guideline 4.2
Menkul kıymet gerçeğe uygun değer artışları · Income from investing activities, note 22
26,324,719
undetermined, kept in the upper bound
TKBB Guideline 4.1
Menkul kıymet satış karları · Income from investing activities, note 22
8,192,225
undetermined, kept in the upper bound
TKBB Guideline 4.1
KAFİF declaration 4.4% (first half 2026) · Sağlama range 2.3% to 8.7% (first half 2026) · the declaration is inside the range · View the form on KAP
Source: company financial report, first half 2026 statements · Jun 30, 2026
The three ratios are calculated from the financial statements, and each bar is scaled to its own threshold. The measurement uses the company's latest published statements, and every record states the period. The official review uses audited six- and twelve-month statements (Standard 3.4), so the periods can differ. Method
This record is produced by Sağlama's calculation from the financial statements the company publishes. The method and the corrections log are public. Responsible for this record: Savaş Tutumlu, founder.
Starts on May 1, 2027. Borsa Istanbul is expected to announce the new list by April 29, 2027 at the latest (Ground Rules 2.17). Sağlama's expectation for each member is on the Review forecast page. This is a forecast, not the official list.
Status history
2 entries
Each period's record and every correction are kept with their dates. Method
Earlier measurementTKBB rules, August 2025, version 2 · first half 2026: depends on the company's declaration. Income 8.69% · assets 3.49% · loans 2.54%.
MeasurementTKBB rules, August 2025, version 3 · first half 2026: depends on the company's declaration. Income 2.33% to 8.69% · assets 0.00% to 5.48% · loans 0.00% to 1.77%. The range crosses the threshold; the outcome depends on the company's declaration.THIS RECORD
Documents and sources
Source links lead to documents published by the company and by Borsa Istanbul. We do not copy KAP documents. Method
FONET financial report, Jun 30, 2026 (company investor relations site)Jun 30, 2026 · Fingerprint 73dfdab47ee0…View the document
Sağlama's calculation and methodTKBB rules, August 2025, version 3Read the method
If a figure looks wrong, write to bilgi@saglama.com. We correct it and record the correction with its date in the corrections log.
What this measurement covers
This result says nothing about the quality of the company. It only shows where a measured ratio stands against the threshold.
The measured range crosses the threshold: the proven amount is below the threshold and the cautious upper bound is above it. The outcome depends on the company's KAFİF declaration, so this record does not count as a divergence. Method
The company's KAFİF declaration
The company's declaration on the KAP form (first half 2026): excluded income 4.4%, interest-bearing assets 4.8%, interest-bearing loans 1.1%. The three declared ratios are within the thresholds; the declaration settles the open range of the measurement. View the form on KAP
The company's answers to the four yes/no questions on the form:
Do the articles of association of the company, its corporate shareholders or its affiliates include an activity that does not follow participation finance principles?
No
Do the company's articles of association grant a privilege that does not follow participation finance principles?
No
Has the company made a statement or decision supporting the actions defined in Standard 1.5 and TKBB Guideline 1.D?
No
Does the company have activities or income directly contrary to participation finance principles?
A company within the threshold can still have a small amount of excluded income (interest income and other income the standard excludes). Under the TKBB standard, the part of this income that falls to your shares is given to charitable causes. This duty applies whether the company made a profit or a loss, and whether or not it paid a dividend. The amount set aside does not replace zakat or sadaqa.
CALCULATION SLIPFONET · first half 2026
Number of shares
500
Gross dividend per share
TRY 2.40
Gross dividend (500 × 2.40)
TRY 1,200.00
Excluded income ratio
8.7%
Purification amount
TRY 104.28
Purification amount = gross dividend × excluded income ratio
The number of shares and the dividend are sample inputs. The ratio comes from the company's measurement. To calculate with your own figures, use the purification page.
Purification amount = gross dividend × excluded income ratio (dividend-based method). Under TKBB Standard 3.6.1, purification is needed even if the company makes a loss or pays no dividend. The method page quotes TKBB Standard 3.6, including the inflation deduction under 3.6.2. This is a cautious calculation. The amount may be higher than the true figure, because it uses all of the interest income, not only the part above inflation. The ratio is the upper bound of the measurement (the lower bound is 2.33%); the purification amount is calculated on the upper bound, as a precaution.
Excluded income is the part of a company's earnings that is not in line with participation finance principles. On the KAP form it is called “income not in line with participation finance principles.”
Purification is done even if the company makes a loss.
Purification is needed even if no dividend is paid. The calculation here uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method), which this calculator does not do yet.
The purification amount does not replace zakat or sadaqa. Under the TKBB standard, it is given away, not kept.
You give the amount yourself, to a charitable cause of your choice. Sağlama does not direct donations.
This calculation uses the dividend-based method. TKBB Standard 3.6 also counts how long you held the shares (the share-days method). The standard is quoted on the method page.
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Companies in the same index
The 12 companies just before and after this one in alphabetical order in BIST Participation 100.