Interaction of the Key Variables of the Economy and Sukuk

Due to the international financial limitations which has been imposed on Iran in the past and recent years and Lack of Resources domestic banks as the most important Limitations financing in Iranian industries, the most innovations in The field of discussions Paid and Islamic finance has been acquired in recent decades. One of the innovations that can be said to compete with other similar tools in the conventional financial system and the release of Islamic bonds is Called Sukuk which is one of the Islamic bonds suitable alternatives to be considered for Riba- based bonds. These bonds to be released mainly to for finance the government, businesses and organizations to government. The aim of this study is to investigate the macroeconomic influences on sukuk issue in Iran over the period 1389-1394 based on vector autoregressive models (VARs), the results indicate that sukuk is the cause of GDP while GDP is also the causes both PPI and CPI. Sukuk is als driven by their own dynamics in the short run. The results have important policy implications for the decision-makers since sukuk issuance causes GDP, policy makers should design new policies to modernize the functional aspects of Islamic capital market