DIAGNOSIS OF SUKUK BONDS ISSUANCE: CASE STUDY SEPAH BANK

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MUSAVIAN SEYED ABBAS; KESHAVARZIAN PEYVASTI AKBAR

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Journal: Journal of Economic Research and Policies Year:2014 | Volume:22 | Issue:69 Page(s): 151-178

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Title

DIAGNOSIS OF SUKUK BONDS ISSUANCE: CASE STUDY SEPAH BANK

Author(s)

MUSAVIAN SEYED ABBAS | KESHAVARZIAN PEYVASTI AKBAR | Issue Writer Certificate

Keywords

LEASE SUKUKQ3

BANKING LEASE SUKUKQ2

FINANCEQ1

RISK COVERAGEQ2

Abstract

Fixed assets burden on the balance sheets of major banks of the country as locked resources and may not be utilized properly. With regard to the compilation of the issuance guideline of lease bonds (Sukuk) in capital market in 2009 and after finalization of this guideline by Central Bank in the early 2012, using this financial instrument, these assets could be changed into the productive banking resources, and exploited in economic plans. Banks have taken preliminary steps to issue lease bonds and have achieved some experiences that could be referred to for decision-making. Also it could help the economy to make appropriate decisions in facilitation of banking FINANCE through changing the fixed assets and real estates of banking system into productive banking resources. The main objective of this research is to investigate the barriers of issuance of LEASE SUKUK in state banks and to present applied solutions. In order to achieve this aim, the researcher has applied descriptive-analytic method and employed comparative comparison, by-laws and the governing law of the Stock-Exchange Organization and the Central Bank of the Islamic Republic of Iran. The results show that despite compilation of the issuing process of lease stock in the Stock- Exchange Organization and Central Bank, due to the structural difficulties such as: lack of specific solution to sell the assets of state banks to intermediary company, absence of related institutions regarding issuance of LEASE SUKUK in guidelines and procedures of Central Bank, non-inclusion of the law regarding development of instruments and new financial instruments on the exemption of taxes and duties in the guideline of the Central Bank, lack of a unified custodian for issuance of LEASE SUKUK and etc, there is no possibility to make use of this efficient instrument within state banks. In this research, enforceable and operational solutions have been given to institutionalize the LEASE SUKUK instrument.

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APA: Copy

MUSAVIAN, SEYED ABBAS, & KESHAVARZIAN PEYVASTI, AKBAR. (2014). DIAGNOSIS OF SUKUK BONDS ISSUANCE: CASE STUDY SEPAH BANK. JOURNAL OF ECONOMIC RESEARCH AND POLICIES, 22(69), 151-178. SID. https://sid.ir/paper/89422/en

Vancouver: Copy

MUSAVIAN SEYED ABBAS, KESHAVARZIAN PEYVASTI AKBAR. DIAGNOSIS OF SUKUK BONDS ISSUANCE: CASE STUDY SEPAH BANK. JOURNAL OF ECONOMIC RESEARCH AND POLICIES[Internet]. 2014;22(69):151-178. Available from: https://sid.ir/paper/89422/en

IEEE: Copy

SEYED ABBAS MUSAVIAN, and AKBAR KESHAVARZIAN PEYVASTI, “DIAGNOSIS OF SUKUK BONDS ISSUANCE: CASE STUDY SEPAH BANK,” JOURNAL OF ECONOMIC RESEARCH AND POLICIES, vol. 22, no. 69, pp. 151–178, 2014, [Online]. Available: https://sid.ir/paper/89422/en

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