Comparison table
Dated October 17, 2026No. SGL-2026-TKBB·AAOIFI
The same balance sheet is read under two standards. TKBB divides by total assets, AAOIFI by market value. So the results can differ.
TKBB, the Participation Banks Association of Türkiye, divides interest-bearing loans and interest-bearing assets by total assets. AAOIFI, the Accounting and Auditing Organization for Islamic Financial Institutions, divides interest-bearing debt and interest-bearing deposits by market value. Market value moves with the share price, so on the same balance sheet the AAOIFI result can change as the price changes.
TKBB's threshold for debt and for assets is 33%; AAOIFI's is 30%. Both use 5% for income. The numerators are not defined in exactly the same way.
Under TKBB's standard, only the part of interest income above inflation is purified (Standard 3.6.2). AAOIFI has no such deduction. At Türkiye's inflation levels, this changes the amount considerably.
Sources: TKBB Equity Standard (July 18, 2024) · AAOIFI Shari'ah Standard No. 21, full official text (clauses 3/4/2 to 3/4/4, checked on September 5, 2026) · The quotations are on the method page
We checked AAOIFI's thresholds and comparison rules against the full official text on September 5, 2026 (page 564 of the PDF). How Turkish statement items are matched, and the use of market value on a single date, are decisions of the first version of our method; the method page lists them under “Initial choices.”
Each period we compare the official index list with our independent calculation. A member is listed here, with both records, when the amounts proven from the statements and notes alone put a ratio above the tolerance band. A company outside the index whose three measured ratios are within the threshold is the opposite case, shown separately.
0 member companies proven above the threshold · calculation date Oct 17, 2026
3 companies outside the index with all three ratios within the threshold
These companies are not on the official list, yet their three measured ratios are within the threshold. Index membership also depends on business activity checks (Standard 1.2) and on the company's declaration, and both are outside this measurement. This difference does not mean a ratio is above the threshold.
We read the KAP form declarations of 233 member companies: 222 declare all three ratios within the thresholds, and 11 declare at least one ratio above its threshold. Of these, 1 member declares a ratio within the band; the rules allow a wait of one period, but a member leaves if the previous review also found a ratio above the threshold. 10 members are in another group in the review forecast. Review forecast, member by member
Members whose own declaration puts at least one ratio above its threshold, grouped as in the review forecast. This list shows the companies' own KAP forms, not Sağlama's measurement.
Within the band · 1
Declaration awaited · 10
The review forecast page gives these members' group and the reason.
We read each declaration from the participation finance information form on KAP. The forms are linked, not copied.
52 member companies where the outcome depends on the company's declaration
For these companies, the measured range spans the threshold or the band limit: the proven amount alone gives a ratio below that limit, and the cautious upper bound is above it. Their place on the official list is set by the company's KAFİF declaration. These records are not divergences; they are open questions that the declaration settles. We read each declaration from the form on KAP.
36 records left out of the measurement classes above, whose financial statements will be read again (34 members, 2 outside the index)
For these records the reading of the statements is not complete: the ratios rest on the items read, and the record page gives no result. These records are not counted among the members proven above the threshold, the reverse differences or the records that depend on the declaration. When the statements are read again, the record is updated with the new measurement. Of the 60 members whose financial statements will be read again, only those left out of the classes above are listed here.