Identifying and Prioritizing the Challenges of the Sukuk Market Expansion in Iran

The expansion of the sukuk market in the country has not been carried out with the speed and quality required, one reason that has led to a lack of proper absorption of liquidity into the securities markets. The present study was designed to identify and prioritize the challenges and damages facing the expansion of sukuk market in Iran. The method of this research is a combined exploratory one consisting of qualitative and quantitative stages. In the qualitative stage, using the method of thematic analysis, the network of themes of the expansion of sukuk market challenges in the country was prepared in the form of 162 basic themes, 32 organizing themes and 6 global themes. In the quantitative stage, the weight of each dimension of the challenge was first determined with Shannon Entropy method, and then 32 identified challenges were prioritized. In the end, it became clear that the lack of proper and comprehensible advertising for the general public in audiovisual media on investment was the most important barrier to the expansion of the sukuk market in Iran, and the inappropriate distribution of facilities and sources of funding had a lower priority.