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Ph.D Student Financial Management, University of Tehran
Abstract
Debt markets, as an important part of the financial system, play an effective role in providing funds. Islamic law (Shari'ah) prohibits the charging and payment of fixed interest. Therefore, in Islamic law system, traditional debt markets can not be used. We need some appropriate alternative tools for traditional debt securities that are compatible to the Islamic law. This article offers a conceptual model - based on marketing and technical approaches - that discusses the implementation and religious aspects of Ijara Sukuk. The authors of the present paper finally conclude that Sukuk securities are suitable and useful alternative for conventional bonds and participation bonds. Therefore, it is necessary for the government to define and support this new financial tools and also develop a secondary market in Iranian economy which individual investors need.
Saleh Abadi, A., Sayyah, S., & Najafi, M. (2011). Developing of a Technical-Marketing Model in Designing and Implementing Ijarah Sukuk in Iran: A Jurisprudenical Study. Journal of Economic Essays; an Islamic Approach, 8(15), 9-37.
MLA
Ali Saleh Abadi; Sajjad Sayyah; Mehdi Najafi. "Developing of a Technical-Marketing Model in Designing and Implementing Ijarah Sukuk in Iran: A Jurisprudenical Study". Journal of Economic Essays; an Islamic Approach, 8, 15, 2011, 9-37.
HARVARD
Saleh Abadi, A., Sayyah, S., Najafi, M. (2011). 'Developing of a Technical-Marketing Model in Designing and Implementing Ijarah Sukuk in Iran: A Jurisprudenical Study', Journal of Economic Essays; an Islamic Approach, 8(15), pp. 9-37.
VANCOUVER
Saleh Abadi, A., Sayyah, S., Najafi, M. Developing of a Technical-Marketing Model in Designing and Implementing Ijarah Sukuk in Iran: A Jurisprudenical Study. Journal of Economic Essays; an Islamic Approach, 2011; 8(15): 9-37.
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