A Model for Implementation of Usury (Interest) Free Banking in Iran (in Persian)

Ali Divandari (), Gholamhossien Taghi Nataj (), Hadi Faghih () and Hamidreza Najafpour Kordi ()
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Ali Divandari: Iran
Gholamhossien Taghi Nataj: Iran
Hadi Faghih: Iran
Hamidreza Najafpour Kordi: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2018, vol. 11, issue 36, 211-236

Abstract: Considering the lack of attention to the appropriate patterns for implementing the Law for Usury (Interest) Free Banking in Iran, as well as a better understanding of the dimensions and components affecting the establishment of Interest free banking and the relationships between them, the main objective of this research is to provide a model for the establishing the interest Free banking. In this regard, the paper works on a hybrid approach and using the mixed research methodology to identify and extract the most important dimensions and components affecting the implementation of free interest banking and examine the relationships between them in an operational model. The initial dimensions of interest-free banking including 9 dimensions (the results of qualitative data) and the final model of the interest-free banking (the results of quantitative data) consisted of 12 main dimensions. Some of the most important of these are the strategic infrastructure; the jurisprudential council and the religious supervision and the process and mechanisms for the implementation of the Islamic contracts. Also, these dimensions, based on the modeling of the influential factors emphasized in strategy implementation models, are categorized into four main axes: Contextual, Structural, Process, and Behavioral variables. Also, based on the levels of influence, each of these variables in the model is presented at three levels of governance, system, and operation.

JEL-codes: E5 G21 K19 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:11:y:2018:i:36:p:211-236

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