Shariah Supervision Model for the Iranian Banks, Based On the Views of Islamic Banking Experts (in Persian)

Seyed Abbas Mosavian, Adel Azar and Hossein Meisami
Additional contact information
Seyed Abbas Mosavian: Iran
Adel Azar: Iran
Hossein Meisami: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2014, vol. 6, issue 18, 59-90

Abstract: Having defined the “Shariah Supervision” concept and going over its operational models in the Islamic banks of others countries, this paper tries to come up with a suitable Shariah Supervision model for the Iranian banking system. The three-round Delphi technique is used to gather the views of the Islamic banking expert and the Binomial Test and the Friedman Test are used to analyze the collected information and ranking the characteristics of the suitable model. The results are threefold. First, in the three decades that the Usury-Free Banking Act has been in practice in Iran, the banking system has not been successful in conducting this law completely and the relevant Shariah Supervision has not been used neither in the central bank nor in the banks themselves. Second, among the different models of Shariah Supervision, the “maximum level of supervision model” is the best for Iranian banking system third, the suitable model of Shariah Supervision should have some special features however, the importance of different features is not equal. The findings of the paper might pave the way to conduct the usury-free banking act in a better manner and increase the level of Shariah Compliance in the Iranian banks operation.

JEL-codes: L87 O10 O16 Z10 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://jmbr.mbri.ac.ir/article-1-182-en.pdf (application/pdf)
http://jmbr.mbri.ac.ir/article-1-182-en.html (text/html)
http://jmbr.mbri.ac.ir/article-1-182-fa.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:6:y:2014:i:18:p:59-90

Access Statistics for this article

More articles in Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی) from Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran Contact information at EDIRC.
Bibliographic data for series maintained by M. E. ().