خلاصة:
One of the essential elements to ensure the compliance with Sharia of financial markets of Islamic countries is the existence of Sharia supervision. The governance of Sharia supervision is related to the set of organizational and institutional arrangements through which an Islamic financial services provider ensures that there is an effective and independent Sharia supervision behind its structures. An analysis of the legal supervision process in the capital market of the Islamic Republic of Iran with emphasis on the position of the jurisprudential committee of the Securities and Exchange Organization is the purpose of this reaserch. Using a descriptive-phenomenological method, this research is qualitative from the point of view of practical purposes, and descriptive survey from the point of view of nature. In this research, 25 members of the main and sub jurisprudential committees of the Securities and Exchange Organization, officials, managers and experts have participated, who were present in all or some of the jurisprudential committee's meetings and were selected by purposeful sampling. According to the findings, the flaws in the legal committee's instructions, the problems of the Sharia supervision process, the lack of training of brokers and market customers, and the lack of culture regarding the presence of Sharia supervisors in the capital market, are the four main components in the pathology of Sharia supervision of the capital market.
ملخص الجهاز:
Research Article: Pathology of Sharia Supervision in the Capital Market of the Islamic Republic of Iran (with emphasis on the role of the Jurisprudential Committee of the Securities and Exchange Organization) ( Alireza Fattahi/ Senior Expert in Islamic Studies and Financial Management, Imam Sadiq University, Tehran, Iran alirezafatahi87@yahoo.
The purpose of this research is a precise pathology of the Sharia supervision process in the capital market of the Islamic Republic of Iran, with an emphasis on the position of the specialized jurisprudential committee of the Securities and Exchange Organization.
This research aims to subject the performance of capital market Sharia supervision, and specifically the activities of the Sharia Committee, to criticism and pathology, and by using the opinions of experts who have been directly involved (original members of the Sharia Committee, members of the Qom Sharia working group, and experts from the Research, Development, and Islamic Studies Center) or indirectly involved (financial institutions and market specialists who have attended Sharia Committee meetings as appropriate to the issue) with the Sharia supervision structure of the Securities and Exchange Organization, to accurately identify and analyze these challenges and problems.
In the absence of such units (which are responsible for supervising the compliance of capital market performance with Sharia teachings), the organization's Jurisprudential Committee will not be able to practically verify the continuous compliance of performances and the implementation of resolutions with Sharia teachings and manage the risk of non-compliance of activities with Islamic teachings (Islamic Financial Services Board, Standard 10).
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