Evaluation of concordance Monetary Policies with Laws and Riba (Interest) -Free Banking in Iran during 1363 to 1393 hijri

After the Islamic Revolution, at August 28th, 1983, the Riba(interest)-free banking act was enacted. With the approval of Riba(interest)-free banking, banks were required to compliance principles and conditions for the removal of usury banking system and the central bank was obliged to carry out its assigned tasks, including adoption and enforcement of monetary policy in the context of their Riba(interest)-free banking. While eliciting monetary policy since the beginning 1984 to 2014, this paper presents deal with level of compliance with the Riba(interest)-free banking policies and rules and for this, divides the foregoing time span to six periods as per five development plans and in each period, while extracting monetary policies, takes level of compliance with the Riba(interest)-free banking policies into account and as a results, the applied monetary policies are classified in five classes. Then it summarizes the reasons for the lack of consistency of policies with Riba(interest)-free banking and damage in the policy and shed lights on approval banking and monetary policies that led to the adoption of policies and practices in illegal manner contrary to the Riba(interest)-free banking and finally it put forwards some approaches to obviate these challenges. Research Methodology in this article is attributive libraries.