Mudarabah Sukuk; A Compatible Instrument for Development of Export in Iran

Authors

1 Associate Professor, Islamic Thought and Culture Research Center

2 M.A. Student, Financial Management, Imam Sadiq University

3 Ph.D. Student, Strategic Management, University of Tehran

Abstract

Nowadays, export has a main role in development and growth of every country. Iran is
dependent on oil in its export and so, the country is dependent on the oil revenue. It is
essential for the country to develop policies that decrease its dependence on exporting
a single-product and increase its export of other products and boost its trade balance.
In Iran, the financial system is bank-based and so, finance of different sectors of
economy - including export activities - is dependant on the banks. On the other side,
banks are less active in financing of export, caused by the lack of a proper
instrument. Therefore, it is essential to develop proper instruments to finance export.
One proper instrument is mudarabah sukuk.
After reviewing the research works about export finance and criticizing the ways to
finance export, we tried to answer the question: Is the mudarabah sukuk a proper
and effective instrument in financing export?
The results were drawn by a descriptive-applied method and show that the
mudarabah sukuk is an effective instrument in financing export, as well as
presenting practical models of mudarabah in export.

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