ISLAMIC FINANCE RESEARCHES
Year:2012 | Volume:1 | Issue:2 (2)|Papers Count:7

This article tries to study the increase or decrease in the performance of the divested companies to the non-governmental public sector and the private sector compared to the period before the divestiture and then it tries compare the private sector and the nongovernmental public sector in improving the performance indexes. To answer two basic questions of the research, the financial indicators granted to each of the firms in the years before and after the divestiture were considered. Then weight average of each of the indicators for each of the periods before and after the divestiture then was considered and then the amount of any increase or decrease in the indicators in the two parts was compared. The results showed the improvement in the performance indexes in the divested companies to private sector and the decrease in the divested companies to nongovernmental public sector. comparing these two sectors in improving performance indexes, the present research has reached the conclusion that the private sector has performed better than the public sector.

Examining the challenges of Islamic banking is one of the subjects which have been addressed by Islamic scholars in recent years. Many researchers believe that one of the main challenges of Islamic banking system in Iran is the deviation of what banks practice in the name of Musharakah contracts from original Musharakah which have been introduced by Shariah. This paper, after pointing out the structural and operational capabilities of a bank in the economic system, examines this hypothesize that bank, as one part of economic system, could not tolerate the Shariah requirements of original Musharakah contracts. Applying the real form of Musharakah contracts causes banks to be inefficient while doing their roles in the micro and macro level of economic system So, insisting to use Musharakah contracts, makes Islamic banks change them in a way that they could apply no matter how far the contracts are different from their original form.

The latest instrument in Islamic financial market is Sukuk securities. Sukuk is a flexible stock securities that can meet the financial needs of firms in the capital markets. However, Sukuk is considered as an alternative investment securities for bonds that receive usury which is forbidden in Islam. The growth of sukuk market in recent years, mainly due to its role in monitoring and controlling the liquidity and the liquidity management at the macro and micro (firm) levels is one of the factors that can lead to the development of Islamic financial markets. Considering the importance of sukuk issuance as well as its role in liquidity management and financing investments, this paper try to estimate the potential capacity of Sukuk issuance in Iran and to forecast its issuance capability in the coming years at the country. However, at first by applying the panel data and time series 2000-2009, the suitable model for sukuk has been designed and then, the capacity of Sukuk issuance in Iran would be predicted by using vector regression method and time series 1973-2009.

Having reviewed the history of the Islamic banking development in the United Kingdom, this paper tries to evaluate the processes, rules and operational techniques used to regulate and supervise Islamic banks and financial institutions in this non-Islamic country. In addition, it tries to go over the Iranian Islamic banking system and compare it with that of England. The results of the paper show that the Shairah governance model used in the United Kingdom to conduct Islamic banking in a country with minimum Islamic environment and laws has special and important characteristics. Understanding these characteristics may have specific implications for enhancing the Shariah supervision in Iran. This research emphasizes some of them.

One of the effective solutions for improving the efficiency of economy is credit scoring in banking industry. This mechanism causes fair capital distribution in society, increasing the speed, accuracy and efficiency of money circulation from suppliers to suppliants, increasing transparency, public confidence and finally decreasing financial crimes and improving safety and welfare in the society.This topic in Islamic banking framework is very important because of its particular nature and unique system. In this article, the authors discuss the importance and necessity of credit scoring in Islamic banking with focus on the Iranian model of Islamic banking then try to demonstrate the requirements of the issue based on Islamic ideas.The research method of this article is analytical and presumption method. The necessity and importance of credit scoring is proved in the micro and macro levels. In the micro level, we pay attention to the bank's role as an attorney and agent and in the macro level, we emphasis the importance of economic justice and prevention of the crisis.

Nowadays, because of the economic circumstances of our society, on one and many persons are eligible to borrow the Qarz Al' Hasan loan and on the other hand there are not sufficient funds to for paying to the Qarz Al' Hasan loan applicants. But the Qarz Al' Hasan Bank has been instituted to expand and promote the culture of Qarz Al' Hasan and also to answer the poor's financial needs in the society. So, it seems necessary to find a solution for the problem of liquidity shortage in the Qarz Al' Hasan Bank. For this purpose, in this paper it is tried to show that the rigid mechanism that is used for absorbing the Qarz Al' Hasan deposits and paying Qarz Al' Hasan loans may be one reason for the problem. If so, It is tried to introduce other mechanisms -that are based on issuing the Sukuk- for solving the problem. hence, the paper shows how the Qarz Al' Hasan Bank can solve its problem by playing the role in the components of Sukuk.

Today, banking is one of the most important sectors of the economy. Banks with their economic and financial operations cause transfer of resources. Resources are transferred from people who are not willing or able directly to participate in economic activities to those who need to capital for economic affairs and consequently causing economic growth for society. In Islamic banking, Circulation of money should be based on Islamic principles and the legal relations between banks and customers should be designed in such ways that are not inconsistent with Islamic standards. In the interest free banking Law, the ways of financing are planned based on the Islamic contracts. So banks can use various contracts to finance applicants' facilities.In this study, the types of banking facilities from the perspective of policy makers of banking system have been prioritized. Appropriate measures, in three steps and via literature review, interview with experts and Submit questionnaire were determined. Then the conceptual model for research based on five chosen criteria and with regard to the banking facilities grouping, was designed. Then, AHP questionnaires for priority of banking facilities were presented to the experts (Policy makers banking system). By analyzing the questionnaires, the various banking facilities ranked. In the end, policy preferences and the current state of banking facilities has been compared.