Designing an Interbank Market Based on the Views of Jurisprudential Experts In the Monetary and Financial System of Iran

Document Type : Research Paper

Authors
SEYYED SAEED SHAMSINEJAD 1
SEYYED ABBAS MOUSAVIAN 2
1 Assistant Professor, Hazrat Masoumeh University,Qom, Iran.
2 Professor, Reaserch Institute of Islamic Culture and Thought, Qom, Iran.
10.30497/ies.2020.75470
Abstract
More than 9 years after its establishment, the Iranian Rial interbank market, despite the increase in the volume of its exchanges, has not been able to expand its position in the country's monetary market by creating the necessary variety in its tools and trading mechanisms. The purpose of this study is to investigate the pathology of the interbank market and design its new structure based on providing short-term monetary instruments and creating the necessary processes and institutions. The research method of this research is in the first stage, the use of descriptive method for collecting library resources and then through analytical-inferential method for jurisprudential and financial sources. In the second part, to design the structure, tools, main components of this market, as well as proposed solutions and explain the limits and limitations of the subject through survey methods and interviews with jurisprudential, financial and monetary experts have been used. In the third stage, using the opinions of experts, 3 stages of questionnaire design and after collecting the results through statistical methods, to analyze them and also write the results in the form of designing a new structure of the interbank market with emphasis on its main components.
The results of this study indicate that through the pathology of the current interbank market and the study of the structure of this market in Western and Islamic countries on the one hand and appropriate research in the field of Islamic finance, it is possible to design a new structure of the interbank market. A bank based on the views of jurisprudential experts in the monetary and financial system of Iran.
Keywords
Interbank Market
Jurisprudence Specialists
Mutual Deposit
Islamic Treasury Bills
Money Market Mutual Fund
Islamic Redemption Agreement
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