SUKUK IN IRAN'S BANKING, CHALLENGES AND OPPORTUNITIES A STUDY OF FOUR DECADES OF SUKUK IN IRAN

This article examines the role of sukuk as an instrument of Islamic financing in Iran. Sukuk as an Islamic financing tool has been known in the world economy for more than two decades, especially in the banking system of Islamic and non-Islamic countries, but it is still unknown in the completely Islamic banking system of Iran. In the Iranian banking system, corporate bonds are still used as an alternative to sukuk, which contains many problems. Therefore, the purpose of this article is to investigate the effects of sukuk vacuum on the banking system of Iran and for this purpose its situation in the last four decades (the period after the victory of the Islamic Revolution in Iran) is followed and the advantages and problems of its entry in the banking system will be studied. The results show that the creation of sukuk in the Iranian banking system can help to improve the level of banking and ultimately promote production growth, expand public welfare, attract foreign capital and etc.