A Comparative Study of Issued Bonds in Iran and al- Musharakah Sukuk
Financial instruments are one of the most important components of any country's financial system. Without varied and efficient financial instruments, financing is disrupted. In 1980s, after many years of experimenting with <em>Riba</em>-based financial instruments, the idea of imple...
| Main Authors: | , |
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| Format: | Article |
| Language: | fas |
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Imam Sadiq University
2012-10-01
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| Series: | تحقیقات مالی اسلامی (پیوسته) |
| Subjects: | |
| Online Access: | http://ifr.journals.isu.ac.ir/article_1532_18ba403a423b6d7dc5e8db59d244984e.pdf |
| _version_ | 1819047752425799680 |
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| author | Hosein Hasanzadeh Sarvestani Mahdyar Sarshar |
| author_facet | Hosein Hasanzadeh Sarvestani Mahdyar Sarshar |
| author_sort | Hosein Hasanzadeh Sarvestani |
| collection | DOAJ |
| description | Financial instruments are one of the most important components of any country's financial system. Without varied and efficient financial instruments, financing is disrupted. In 1980s, after many years of experimenting with <em>Riba</em>-based financial instruments, the idea of implementing Islamic financial instruments came into force and different kinds of <em>Sukuk</em> were invented as alternatives. <br />All over the world, <em>al-musharakah sukuk</em> has become a favorite tool among investors. In some cases, the amount of issuance has increased due to unexpected investors' demand. Iran can be regarded as the first country which has issued bonds for funding its investments. This has been effected with the permission of two authorities: Central Bank of the Islamic Republic of Iran and Securities and Exchange Organization. Bonds issued in Iran and <em>al-musharakah sukuk</em> issued in foreign countries have similarities and differences. This article has analyzed bonds in Iran and <em>al-musharakah sukuk</em> in foreign countries from different points of view: issuance statistics, definitions, components, issuance mechanisms and <em>sharia </em>compliance; furthermore, it offers suggestions for issuing <em>al-musharakah sukuk</em> in Iran and removing structural flaws of bonds currently used in the country. |
| first_indexed | 2024-12-21T11:05:21Z |
| format | Article |
| id | doaj.art-5d2af80d043f412e89d2dcf4121cc6d7 |
| institution | Directory Open Access Journal |
| issn | 2251-8290 2588-6584 |
| language | fas |
| last_indexed | 2024-12-21T11:05:21Z |
| publishDate | 2012-10-01 |
| publisher | Imam Sadiq University |
| record_format | Article |
| series | تحقیقات مالی اسلامی (پیوسته) |
| spelling | doaj.art-5d2af80d043f412e89d2dcf4121cc6d72022-12-21T19:06:14ZfasImam Sadiq Universityتحقیقات مالی اسلامی (پیوسته)2251-82902588-65842012-10-012169981532A Comparative Study of Issued Bonds in Iran and al- Musharakah SukukHosein Hasanzadeh Sarvestani0Mahdyar Sarshar1PhD student in Financial Management, Tehran University of Science and ResearchMaster student of financial managementFinancial instruments are one of the most important components of any country's financial system. Without varied and efficient financial instruments, financing is disrupted. In 1980s, after many years of experimenting with <em>Riba</em>-based financial instruments, the idea of implementing Islamic financial instruments came into force and different kinds of <em>Sukuk</em> were invented as alternatives. <br />All over the world, <em>al-musharakah sukuk</em> has become a favorite tool among investors. In some cases, the amount of issuance has increased due to unexpected investors' demand. Iran can be regarded as the first country which has issued bonds for funding its investments. This has been effected with the permission of two authorities: Central Bank of the Islamic Republic of Iran and Securities and Exchange Organization. Bonds issued in Iran and <em>al-musharakah sukuk</em> issued in foreign countries have similarities and differences. This article has analyzed bonds in Iran and <em>al-musharakah sukuk</em> in foreign countries from different points of view: issuance statistics, definitions, components, issuance mechanisms and <em>sharia </em>compliance; furthermore, it offers suggestions for issuing <em>al-musharakah sukuk</em> in Iran and removing structural flaws of bonds currently used in the country.http://ifr.journals.isu.ac.ir/article_1532_18ba403a423b6d7dc5e8db59d244984e.pdfislamic financial instrumentbondsal- musharakah sukukissuance mechanisms |
| spellingShingle | Hosein Hasanzadeh Sarvestani Mahdyar Sarshar A Comparative Study of Issued Bonds in Iran and al- Musharakah Sukuk تحقیقات مالی اسلامی (پیوسته) islamic financial instrument bonds al- musharakah sukuk issuance mechanisms |
| title | A Comparative Study of Issued Bonds in Iran and al- Musharakah Sukuk |
| title_full | A Comparative Study of Issued Bonds in Iran and al- Musharakah Sukuk |
| title_fullStr | A Comparative Study of Issued Bonds in Iran and al- Musharakah Sukuk |
| title_full_unstemmed | A Comparative Study of Issued Bonds in Iran and al- Musharakah Sukuk |
| title_short | A Comparative Study of Issued Bonds in Iran and al- Musharakah Sukuk |
| title_sort | comparative study of issued bonds in iran and al musharakah sukuk |
| topic | islamic financial instrument bonds al- musharakah sukuk issuance mechanisms |
| url | http://ifr.journals.isu.ac.ir/article_1532_18ba403a423b6d7dc5e8db59d244984e.pdf |
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