The Analysis of Delay Payment Penalty Challenges in usury-free Banking, with Substitute Solution

The delay payment penalty is one of the criticized challenges of usuryfree banking in Iran. The Jurisprudential, legal and economic challenges necessitates research about substitute solution for this subject. “Can we find a solution by Jurisprudential capacities that efficiently solve delay payment penalty challenges?”is the main question of this research. This article strives that through an analytic- descriptive method and benefiting from Shia (Imamiyah) jurisprudence, it can prove this hypothesis that: "compound solution of banking awards and legal penalties (Tazir) is a good policy package for solving the delay payment penalty challenges." The using of the policy package which is supported by hortative and punitive instruments and is backed by information system of facilities records can be a substitute solution for this subject. This solution has the same advantages of the other solutions with the difference that it minimizes their problems.