خلاصة:
Due to the international financial limitations which has been imposed on Iran in the past and recent years and Lack of Resources domestic banks as the most important Limitations financing in Iranian industries, the most innovations in The field of discussions Paid and Islamic finance has been acquired in recent decades. One of the innovations that can be said to compete with other similar tools in the conventional financial system and the release of Islamic bonds is Called Sukuk which is one of the Islamic bonds suitable alternatives to be considered for Riba- based bonds. These bonds to be released mainly to for finance the government, businesses and organizations to government. The aim of this study is to investigate the macroeconomic influences on sukuk issue in Iran over the period 1389-1394 based on vector autoregressive models (VARs), the results indicate that sukuk is the cause of GDP while GDP is also the causes both PPI and CPI. Sukuk is als driven by their own dynamics in the short run. The results have important policy implications for the decision-makers since sukuk issuance causes GDP, policy makers should design new policies to modernize the functional aspects of Islamic capital market
ملخص الجهاز:
The Mutual Impact of Key Variables of Iran's Economy and the Issuance of Sukuk 1 Mohammad Sharif Karimi 2 Kiumars Soheily 3 Mina Naeimi Date Received: 96/1/15 Date Accepted: 96/4/31 Abstract Given the international financial restrictions imposed on Iran in recent years and the insufficiency of domestic bank resources, which are considered the most significant limitations for financing industries in Iran, innovations have occurred in the field of Islamic monetary and financial discussions in the last decade.
Keywords: Sukuk, International Finance, Islamic Financial Instruments JEL Classification: F3, G2, E6, PPI, CPI 1- Assistant Professor, Department of Economics, Razi University, Kermanshah s.
The importance of the research conducted here is that these securities, from both jurisprudential and economic perspectives, are legitimate and efficient tools for financing various economic sectors, and this article helps to investigate the effects of macroeconomic factors on the behavior of the Sukuk market.
1- Thomson Reuters Zawya 1- Theoretical Foundations and Literature Review Islamic financial instruments (Sukuk) are securities with equal financial value that are tradable in financial markets, designed based on one of the contracts approved by Islam, where the holders are undivided owners of one or a set of assets and the benefits derived from them.
Other studies have utilized Variance Decomposition (VCD), Impulse Response Functions (IRF), and analysis of shocks to explanatory (independent) economic variables, which only a minority of them predict market index errors and effects that were not continuous; The latest study adds to the empirical factors of Sukuk issuance from large and independent companies.
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