The Formation of Tawarruq Security Alternative to Bonds for Fiscal Policy
With regard to the prohibition of Riba in Islam, it is important to find an alternative to bonds that would be effective for financing the government deficit. In this case securities based on loan contract have been introduced that are not a proper substitute for bonds because these securities are f...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
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Iran Banking Institute
2017-11-01
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| Series: | مطالعات مالی و بانکداری اسلامی |
| Subjects: | |
| Online Access: | http://jifb.ibi.ac.ir/article_54995_d2ea15592e98497c80d736c618a48478.pdf |
| _version_ | 1818038319591718912 |
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| author | Seyed Mohsen Sajjadi Mahdi Gholampoor |
| author_facet | Seyed Mohsen Sajjadi Mahdi Gholampoor |
| author_sort | Seyed Mohsen Sajjadi |
| collection | DOAJ |
| description | With regard to the prohibition of Riba in Islam, it is important to find an alternative to bonds that would be effective for financing the government deficit. In this case securities based on loan contract have been introduced that are not a proper substitute for bonds because these securities are faced with restrictions to be investigated in this paper.
The present research explains the formation of Tawarruq securities as a proper alternative to bonds in five steps, and by comparing different securities in Islamic countries comes to the conclusion that based on interest free financial instruments, Tawarruq securities can be suitable substitutes for bonds. Therefore, as it is legitimate and relevant to the real market, it is also a proper tool for fiscal policy. |
| first_indexed | 2024-12-10T07:40:51Z |
| format | Article |
| id | doaj.art-18ddecfc69e74348899f57d9124eb6ff |
| institution | Directory Open Access Journal |
| issn | 2588-3569 2588-4433 |
| language | fas |
| last_indexed | 2024-12-10T07:40:51Z |
| publishDate | 2017-11-01 |
| publisher | Iran Banking Institute |
| record_format | Article |
| series | مطالعات مالی و بانکداری اسلامی |
| spelling | doaj.art-18ddecfc69e74348899f57d9124eb6ff2022-12-22T01:57:19ZfasIran Banking Instituteمطالعات مالی و بانکداری اسلامی2588-35692588-44332017-11-013بهار و تابستان16919854995The Formation of Tawarruq Security Alternative to Bonds for Fiscal PolicySeyed Mohsen Sajjadi0Mahdi Gholampoor1Faculty member, Mofid UniversityM. A in EconomicsWith regard to the prohibition of Riba in Islam, it is important to find an alternative to bonds that would be effective for financing the government deficit. In this case securities based on loan contract have been introduced that are not a proper substitute for bonds because these securities are faced with restrictions to be investigated in this paper. The present research explains the formation of Tawarruq securities as a proper alternative to bonds in five steps, and by comparing different securities in Islamic countries comes to the conclusion that based on interest free financial instruments, Tawarruq securities can be suitable substitutes for bonds. Therefore, as it is legitimate and relevant to the real market, it is also a proper tool for fiscal policy.http://jifb.ibi.ac.ir/article_54995_d2ea15592e98497c80d736c618a48478.pdfTtawarruq ContractInterest Free BankingTawarruq SecuritybondsProvide Liquidity |
| spellingShingle | Seyed Mohsen Sajjadi Mahdi Gholampoor The Formation of Tawarruq Security Alternative to Bonds for Fiscal Policy مطالعات مالی و بانکداری اسلامی Ttawarruq Contract Interest Free Banking Tawarruq Security bonds Provide Liquidity |
| title | The Formation of Tawarruq Security Alternative to Bonds for Fiscal Policy |
| title_full | The Formation of Tawarruq Security Alternative to Bonds for Fiscal Policy |
| title_fullStr | The Formation of Tawarruq Security Alternative to Bonds for Fiscal Policy |
| title_full_unstemmed | The Formation of Tawarruq Security Alternative to Bonds for Fiscal Policy |
| title_short | The Formation of Tawarruq Security Alternative to Bonds for Fiscal Policy |
| title_sort | formation of tawarruq security alternative to bonds for fiscal policy |
| topic | Ttawarruq Contract Interest Free Banking Tawarruq Security bonds Provide Liquidity |
| url | http://jifb.ibi.ac.ir/article_54995_d2ea15592e98497c80d736c618a48478.pdf |
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