مجله پژوهش های مالیه اسلامی
سال یکم شماره 2 (پاییز و زمستان 1392)

The moral queries are highly important in the finance industry، particularly in the banking system. An ethic-based banking system takes more realistic approach to real wealth and money in order to support the value of people interacting with the banking system. Hence،the ethical banking onsiders considers moral and social values and standards​​ in its performance along with economic criteria. So، regarding the dominance of the ethical values on human relationships، this study tries to investigate ethical components in the Islamic banking system. According to this study، since Islamic banking is based on the Islamic laws، it is committed to moral values regarding both goals and performance.

Almost all countries seriously pursue economic growth، as well as other economic and social goals through various approaches. Achieving a sustainable economic growth requires providing capital and other factors of production. In order to fulfill this need in societies، financial markets evolve constantly. In fact، developing financial markets cause economic development. After liberalizing prices، especially those of forms of energy، and acquisition of the Iranian government finances following the enforcement of targeted subsidy plan، people were provided with the collected resources in order to make up for the increase of household expenditures. Enforcing this law along with some other economic problems، including the sanctions against Iran lead into stagflation. Hence، some models need to be formulated in order to exit this situation. This study is a descriptive content analysis one using library resources tries to investigate the hypothesis whether designing Istisna securities using the cash subsides paid to the caretakers which can finance production infrastructures well enough through financial markets and the Iranian banking system. With respect to proposed models that each of them is based either on Ijarah Muntahia Bittamleek or on debt buying، the model of production support Istisna securities based on Ijarah Muntahia Bittamleek with an emphasis on the Iranian banking system is recognized as the best model.

This article discusses the total factor productivity changes in revitalizing Zakat organizations in 31 provinces of IRAN from 2007 to 2011 using the Malmquist index. Changes of total technical، technological، pure technical and scale efficiencyies and total factor productivity have been estimated and analyzed. The results show that among the factors studied during the abovementioned period، total technical efficiency (1/006) and technological changes (1/447) were the most important factors of improved total factor productivity change (TFP=1/456). The highest management efficiency change in the whole country was in the year 2011. Total factor productivity shows that greatest productivity growth happened in 2009. Inappropriateness scale efficiency was the most important cause of this phenomenon in all revitalizing Zakat organizations.

Risk-taking Islamic Investment is one of the modern methods of Islamic financing، which has not been taken into consideration by Islamic financial experts despite that a lot of experts admit its dfficiency and special advantages. Hence most studies in this field، have only dealt with Mudarabah and Musharakah as financing methods in the process of risk-taking Islamic investment، while there are some other structures to use in this process. In fact، this study deals with the structures and patterns based on the religious law which are efficient in the risk-taking investment industry and with their performance in risk-taking Islamic investment companies. The method in this study is descriptive-analytical using library resources and document analysis. The results show that we can use agreements such as diminishing Musharakah، Ijarah Mawsufah Fi Zimmah (Forward Lease)، Ijarah Muntahiah Bi Tamlik and the model of Wakalah-Ijarah Mawsufah Fi Zimmah in addition to the agreements of Mudarabah and Musharakah in the process of the risk taking Islamic investment.

Risk is one of the key features of decision-making in the process of investment، financial markets and economic activities. This paper، using analytical and inferential method، aims to investigate risk from the view point of Islam. Findings of this paper imply that، based on Islamic teachings including the holy Quran، innocents hadith، behavior of Prophets and Imams (AS) and the principles and rules contained in Shiite jurisprudence، risk is allowable and even، in some cases، is necessary. Besides، according to Islamic view point، value creation is the requisite of legitimation of risk and the useful، productive، and manageable risk is allowed in financial markets.

Evaluation of Mohammad Reza Hakimi’s viewpoint، as an expert in the economic justice in Islam، about feasibility study of justice realization is the subject of this study. According to Hakimi، Economic justice is a basic principle in system-making and a brilliant element in the system of social thought. Using adescriptive method، his view and methodology based on the Quran and Hadith is analyzed. Through a vast text-based towards Quran and Sunnah، he considers the economic teachings of Islam from a social and systematic perspective. He believes that the realization of justice is both possible and a holy aim of all the prophets and imams. Hakimi does not consider the realization of justice out of reach، and says that it is the holy aim of all prophets and imams. Operational feasibility of the model for economic justice is important because some believe that justice is an unattainable and only a theoretical ideal. But the main emphasis of holy legislator on justice indicates that justice is not just an imaginary topic and we should try to realize it. The main hypothesis of this study is that there seems to be an ideal model of Hakimi economic justice، has the operational capability and through levying appropriate taxes it may become operational.