Providing a model for strengthening Rial governance with the aim of reducing capital outflow (ISM approach)

Governance of the Rial domain is one of the areas of governance that has received less attention from the country's economic policymakers in the past few decades. The purpose of Rial governance is for the government to use the capacities that the Rial payment system and the information available in bank transactions create for the administration of the country . therefore, the aim of the present study was to present a model for strengthening Rial governance with the aim of reducing capital outflow. This study was applied in terms of its purpose and descriptive-survey in terms of its data collection method and was analyzed using a mixed research method (qualitative-quantitative). The present study was conducted in three steps including qualitative, interpretive structure modeling, and quantitative. The results of the qualitative section indicate that 8 overarching themes, 25 organizing themes, and 58 basic themes were identified. The overarching themes are monetary policies, exchange rate policies, creating and strengthening transparency in banking performance, strengthening supervision and control over banking operations, creating financial attractiveness for investment in the country, gaining the trust of foreign investors, good governance, and challenges. The results from the quantitative section also showed that the dimensions obtained have a significant impact on strengthening the governance of the rial with the aim of reducing capital outflows.