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Qualitative analysis of obstacles and requirements for the development of Islamic financial securities in Iran
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Mehran Mirzahoseyni1   , Mojgan Safa *2 , Seyed abas Borhani1 |
1- Islamic Azad University - Qom Branch & Islamic Azad University - Qom Branch
2- Islamic Azad University - Qom Branch & Islamic Azad University - Qom Branch , dr.mojgansafa@iau.ac.ir |
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Abstract: (5 Views) |
Islamic financial bonds (Sukuk) as financial instruments based on Islamic jurisprudence play an important role in financing economic projects and developing the capital market of Islamic countries. In Iran, despite the existing potential, the issuance and development of these bonds faces challenges that require careful consideration. This research aims to identify the obstacles, challenges, and opportunities for issuing Islamic financial securities in Iran and to provide a conceptual framework for the sustainable development of this market. The present study is qualitative and has used the qualitative content analysis method using semi-structured interviews with experts in the fields of financial jurisprudence, Islamic economics, and capital markets. The interviewees are academic and professional experts. The data were analyzed by coding. The interviewees were academic and professional experts, and we set criteria for their selection. The research findings show that structural barriers, weak coordination between institutions, jurisprudential challenges resulting from disagreements among jurists and the lack of a Sharia standardization institution, market problems including low liquidity and lack of public awareness, and the lengthy issuance process are among the most important factors limiting the development of the Islamic financial bond market in Iran. In contrast, alignment with resistance economy policies, regional market capacity, and the possibility of developing new Islamic financial instruments were identified as key opportunities. Sustainable development of the Islamic financial securities market in Iran requires the design and implementation of a coherent structural and jurisprudential framework, the improvement of technological infrastructure, and especially the increase in investor awareness. This framework can be used as a roadmap for policymakers and financial institutions in the country. |
Article number: 4 |
| Keywords: Islamic financial bonds, Sukuk, financing, Islamic financial development. |
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Full-Text [PDF 595 kb]
(3 Downloads)
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Article type: Research |
Subject:
Special
Received: 2025/06/11 | Accepted: 2026/04/21 | Published: 2026/08/1
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