In accordance with the tenet of relevant theories of money and finance, the main role of banks in the economy is de facto considered to be the creation of money through holding the cash deposits of public and in turn extending the required facilities to the concerned people viz-a-viz these deposits. In fact banks are de jure assumed to be the liquidity pool in which by changing the maturity of their balance sheet entries, they can create liquidity. In this context, banks will prevail the opportunity to allocate the non-pecuniary entries of their balance sheets for non banking sectors and hold the pecuniary entries of the balance sheet for their depositors and borrowers. As a result, the depositors keep their deposits with banks and the borrowers will receive the needed money in the form of loans in an appropriate time. In addition, banks can also create liquidity by using the entries of their balance sheets and transform the less liquid assets into liabilities quid pro qua. Thus in this paper, an attempt is made to estimate the index of liquidity creation in the Iranian banking system. This index is blend of liquidity creation process of banks which includes per se their assets, liabilities and capitals in toto. However it is pertinent to note that most of the studies in this area, have emphasized on reviewing the role of banks liquidity creation through extension of loans and credits, while in this paper, we have tried to focus on the structure of balance sheet of banking system for the period 2007-2012, sui generis.

The function and importance of banks in the country's economy is very high due to the nature of their work; and if banks do not play their role properly and cannot respond to investors and stakeholders, they will create a Financial crisis. Determining and managing liquidity (liquidity creation) of banks and in particular recognizing the factors affecting this type of banks' liquidity, can be of great assistance to supervisory authorities to advance the objectives and prevent bank failures. Therefore, this research tries to calculate the liquidity creation index and investigate the factors affecting the liquidity creation of banks listed in Tehran Stock Exchange during the years 2010-2016. For this purpose, a sample consisted of 8 banks listed in Stock Exchange were selected and the liquidity creation index was calculated. Then, using the multivariable regression model, the relationship between variables was investigated. The results of the research indicate a weak performance in creating liquidity and the existence of a significant and direct relationship between the ratio of the bank size, total loan to the total deposits and quick ratio with The liquidity creation index is a member of the statistical sample and The relationship between stock market index changes and liquidity creation of banks was reversed, It can be argued that, with the burgeoning capital market, bank deposit rates lose their attractiveness to investors, which leads to a decrease in deposits with the bank, and as a result of banks' liquidity creation due to reduced available resources is reduced.

Financial Intermediation plays a significant role in the economic growth and development of a country. The purpose of this research is to investigate the role of the Financial Intermediation sector in production and employment, considering Iran's double-digit unemployment rate and negative economic growth rate, using the country's latest data-output table. Hence, the expanding extraction method of Diazenbacher and Lehr (2013) is used.The results of the study demonstrate that if 10% of the output of the Financial Intermediation sector is removed, the total output of the economy will decrease by 31188388 million Rials (31.1%). In addition, this elimination has the greatest impact on the Financial Intermediation and transportation sectors. Also, the 10% reduction in the supply of the Financial Intermediation sector will have the highest reduction in the value-added percentage on the agriculture, industry and construction sectors. In addition, the removal of 10% of the Financial Intermediation sector will reduce the employment of the entire economy by 49,972 people (12.3%). Considering that the agricultural and fishing sectors, industry, construction and wholesale and retail services are considered key from the perspective of production and employment, and also there is a high correlation coefficient between the decrease in output and the decrease in employment between economic sectors, it can be said that growth-oriented policies and job-creating policies are in the same direction in Iran's economy are in the same direction. Therefore, it is suggested that economic policy makers should improve employment by adopting a growth-oriented policy. In this article, the 99-sector data-output table of 2011 (which was published by the Central Bank in March 2017) has been used as a section by section. Then, the above table is aggregated into 15 sections and it has been used after separating imports

The expansion of technology and innovative methods in Financial services has created opportunities and challenges that make its correct legal planning a necessary structure. The diversity of Financial services and products, the speed of technological developments and the unknown processes used in the field of Financial technologies are the reasons for the inactivity or slowness of legal systems. This is despite the fact that Financial technologies, as a global phenomenon, by ignoring legal and Financial restrictions, have taken the citizens' Financial relationships beyond the traditional legal formats and the limits of the political borders of countries without the need for governmental infrastructures, or the approvals of the central institutions. They all make a new Financial ecosystem in contemporary societies. The current research seeks to explain and evaluate the existing approaches in dealing with this complex Financial structure using an analytical-comparative study. It then puts forward suggestions that can be proposed in Iran's legal and Financial system. The research results show that the effectiveness of regulatory methods depends on minimal intervention and recognition of the independence of Financial technology standards. Therefore, having the advantage from the benefits of Financial technologies and managing the risks requires a review of the related criteria at both the content and form (instrumental) levels.

The current set up of Iranian banking system is the continuation of previous structure and nothing has changed in the banking organization after the passage and implementation of law of interest free banking operations. The changes introduced in the arrangements of banks after the enactment of the Law, were confined to the nationalization and merger of these banks. While non-interest banking operation is essentially different from interest based banking system, the lack of an appropriate structure has caused Iran's banking system to remain far from an interest free and efficient system. The low share of banks direct investment, noncontingent return, the incompatibility of Intermediation with principle-agent method, lack of commitment to the nature of contracts, inverse selection, and moral hazards are the major implications of Iranian banking system remaining unchanged. The research aims at presenting a model for restructuring the Iranian banking system- in conformity with interest free Financial system. To keep the intermediatory nature of bank, its dual legal entity, and monetary and capital sectors, as it is the case in conventional banking operations, Iranian banks' should only act as Financial intermediators and hand over the investment and agent tasks to appropriate institutions. Thus, the current banking system must undergo three changes. First, bank operations should be limited to handling current accounts, beneficiary loan deposits and other common banking services. Secondly, banks should not accept time investment deposits, this task will be handed over gradually to the related institutions. Thirdly, specialized banks should be transformed into commercial investment banks. In this model, the interest will be eliminated and the specialization of Financial institutes will help decrease the informational asymmetry. As a result, direct investment will increase and the economic growth will accelerate.