Abstract
Today, the existence of micro financing institutions is very necessary to meet the micro and essential needs of the society. In the financial system of the Islamic Republic of Iran, these institutions usually operate in the form of Qard-Al-Hasan. Qard-Al-Hasan contract is one of the Shariah contracts and acceptable social traditions, which includes a wide range of people as its suppliers and applicants. According to the monetary and banking law of 1351, the central bank is obliged to supervise credit institutions, including Qard-Al-Hasan institutions. This research deals with the pathology of the Central Bank in the capacity of supervising the institutions related to Qard-Al-Hasan.
The main strategy of this research is to use theme analysis to analyze qualitative data, and from a total of 20 interviews conducted with experts in the field of Qard-Al-Hasan and Central Bank, 247 primary themes, 116 non-repetitive basic themes, 39 organizing themes and and 5 comprehensive themes were counted. Then the network of themes related to the research question is drawn. According to the findings of this research, the central bank's supervision challenges were classified into five categories: general supervision challenges, challenges related to the Islamic Economic Organization, challenges related to Qard-Al-Hasan funds, challenges related to Qard-Al-Hasan banks, and challenges related to the banking network. Also, at the end, solutions to overcome these problems are presented in each field.
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