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Publication . Article . 2019

Design and Juridical Study of Ju'alah Sukuk for Financing Infrastructure Road Transport Projects in Iran

Sayyed Abbas Mousavian; Mohammad Hasem Botshekan; Fereshteh Rahimi Almasi;
Open Access
Persian
Published: 01 Apr 2019 Journal: تحقیقات مالی اسلامی (پیوسته), volume 8, issue 2, pages 307-338 (issn: 2251-8290, eissn: 2588-6584, Copyright policy )
Publisher: Imam Sadiq University
Abstract
At the moment, Iran needs an urgent development of its infrastructure but the government's financial resources are not high enough to afford such expenses and on the other hand, the mismatch between the short-term resources of banks and long-term expenses of projects, has made it inappropriate to finance long-term needs through banks. In this regard using the private sector's resources through the capital market can be a good solution for this problem. The main objective of this research is to design and juridical study of Ju'alah securities to finance infrastructure road transport projects in capital market of Iran. By applying the Delphi method or experts survey, the juridical aspects of the newly designed Ju'alah securities to finance infrastructure road projects were studied and two operational model for it were approved by experts in which: (i) the contractor builds the project for certain amount of money that the government should pay. This model is suitable for Build, Transfer and Lease (BTL) contracts and alike, (ii) the contractor builds the project for the right to operate it for a specific time period. This model is suitable for Build, Operate and transfer (BOT) contracts and alike.
Subjects by Vocabulary

Library of Congress Subject Headings: lcsh:Islamic law lcsh:KBP1-4860 lcsh:Finance lcsh:HG1-9999

Subjects

ju'alah securities, islamic finance, juridical, infrastructure, road transport, capital market

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