Designing Practical Models for Credit Purchasing of Securities with Particular Reference to the Investment Company and Specialized Bank of Securities

redit purchasing of securities is one of the effective means used in the capital markets of developing countries, including Iran, to attract liquidity out of the market. If properly organized and if statutory regulations are observed, credit purchasing can increase the efficiency of the market and improve the way of setting a fair price. Although most countries adopt a system of credit transactions which has outstanding characteristics, the way of devising its infrastructure and putting it into practice should be flexible and suitable for that country or market such that it can change over the time. In the common model of credit purchasing, banks and financial institutions provide brokers with their resources and brokers give them to customers by receiving authentic documents. Using an analytical method and examining the view of fiqhi and financial experts, the present paper uses Murabah and Wakalah contracts to optimize the common model of credit purchasing. The paper proposes models for credit purchasing in the capital market with particular reference to the central investment company and specialized bank.