Recognition and prioritization of oil Standard parallel Salaf papers' risks using fuzzy analytic hierarchy process (AHP)


1 MA of Financial Management, Imam Sadiq University

2 Assistant Professor of Management Department, Imam Sadiq University

3 Ph.D. student of industrial management, Ferdowsi University


After the enactment of Fifth Development Program Law, the Oil Ministry was authorized to invest in oil supply through the release of Sukuk action. One of the most appropriate Islamic financial instruments for this purpose was salaf sukuk. In this regard, after approval of the jurisprudential committee, the Securities and Exchange Organization approved the executive instructions of oil Standard parallel Salaf papers.
Since in developing every Islamic financial instrument various religious, legal and economic dimensions of designing financial model and risk management should be considered, in this study on the basis of analytical–descriptive methods and by using library resources risks of oil Standard parallel Salaf papers for each of the elements involved in the structure of these papers were identified and classified into three categories, namely investors' risks, commercial institutions’(originators’) risks and financial institutions (SPV’s) risks and then were approved by experts . Finally, using fuzzy analytic hierarchy process (AHP) risks were prioritized. According to research findings, exchange rate risks, volatility of price of basic assets, liquidity, volatility of public level of price and interest rates of investors' market risks were prioritized from one to five.