نشریه معرفت اقتصاد اسلامی
سال دوازدهم شماره 2 (پیاپی 24، بهار و تابستان 1400)

The property rights play an important role in organizing the economic system; to the extent that some consider economics to be the science of studying the property rights Property rights determine how individuals benefit or suffer in economic interactions and the framework for resolving conflicts of interest. In the course of the evolution of this concept, the meaning of ownership has changed from an absolute right - that is in the possession of the owner - to the concept of a package of rights. Accordingly, in the ownership of an asset, there is a set of rights and the right owner. Each right is related to a set of rules that determine how that right is applied for the right holder and other obligors. This perception of ownership provides an analytical system for organizing all kinds of assets, charities and gifts, which its application in the analysis of private goods and common resources has precedent. Using an analytical application method, this paper uses this approach in the case of money and specifically in the case of money creation. To organize the issue of money creation, the result of this approach provides a matrix of rights and rules that any monetary school, including in Islamic economics, should be able to complete the blocks of this matrix.

The relationship between corporate governance mechanisms and the financial performance of Islamic banks has been extensively studied in previous empirical research. However, the results differ mainly due to the heterogeneity of the samples used in the experimental research. To explain and draw conclusions from these different results, this paper presents the results of meta-analysis of existing studies on the relationship between the five mechanisms of corporate governance and financial performance of Islamic banks. Independence of board members, number of board members, sharia oversight board, dual role of director and audit committee. Reviewing the content and results of individual studies based on the meta-analysis protocol, seventeen studies were excluded for selection analysis and studies that did not fit the protocol, or whose information was not sufficient to extract data. Extracting and coding, the quantitative results of seventeen studies were used to combine the results. The results of combining and concluding studies show that Islamic banks will have better financial performance if they have 1) more proportion of independent managers in the board of directors 2) larger sharia supervisory board 3) more board members 4) dual role of the CEO 5) and the audit committee.

To provide the expenses of Qarḍ-al Hassan loans in the banking system is one of the challenges of interest-free banking. Using an analytical-comparative method, this paper studies the Qarḍ-al Hassan usury loan commission. Calculating the costs, in the common method in the country's banking system, the bank receives the equivalent of 4% of the facilities from the customer in the form of a contract. Some consider receiving a large amount of money to be usury and illegal, even if it is under a fee and equivalent to expenses. The findings show that there is no problem in receiving the 4% the Qarḍ-al Hassan loans as commission. It is important that the total fee received does not exceed the bank charges. Evaluating the alternative commission proposals and reviewing the cost-effective components in calculating the commission, a new proposal was presented in this paper. Based on the proposed model, the bank can entrust the costs directly to the customer. In case of impossibility of deferring costs, the bank handles costly affairs on behalf of the customer to cover the costs from the beginning, or to finance these items from other suggested sources.

The development of Istisna securities as one of the Islamic financial instruments requires identifying and analyzing its risk. This article seeks to select the model and the optimal risk coverage solution in the operating models of Istisna securities. According to the findings, the selection of the optimal model in the risk coverage of Istisna securities has led to attracting liquidity of risk-averse groups of investors and will provide the financial resources needed by economic institutions in the community. Using a descriptive-analytical method, using the questionnaire tool and its distribution in the statistical community of scientific elites and financial market experts and specialists and utilizing the five-choice Likert spectrum this research has been proposed. The results show that among the operational models of Istisna securities, the Islamic Stock Exchange model is the best model. Among the risk hedging strategies, the central bank strategy and the commitment method can be recommended as the best strategies. 

Justice has several concepts and criteria. In any sense, it will reduce the class gap, poverty and increase the per capita income. That is why justice should be one of the pillars of a Moqavemah economy. This paper tries to deduce the components of economic justice from the general policies of the Moqavemah economics. Then, using the system dynamics approach, the causal relationships of the factors causing the class gap were plotted with Wensim software to identify the plagues and obstacles to the realization of economic justice. Comparing the components of justice in a Moqavemah economy with the mentioned causal patterns provides a roadmap for economic justice. Analysis of causal relations shows that oil revenues have a high share in the government budget. This dependence has led the government to neglect to improve the business environment, reform the tax structure and the government's financial indiscipline which has led to rising unemployment, inflation and a permanent government budget deficit. The results show that without reforming the tax structure, government financial discipline and improving the business environment, one cannot hope to reduce the class gap in the long run.

One of the important issues in the evaluation of Islamic economics is the mechanism of incorporating values in the theories of Islamic economics. This analytical study can help Islamic economics researchers to incorporate values into their theories. The findings show that values incorporate the theories of Islamic economics in the form of epistemological and moral judgment values (ideal, behavioral, structural and policy-making judgment values). Epistemological value judgment indicates the value orientation of Islamic economics researcher in producing knowledge of Islamic economics. The most important part of the moral value judgment in Islamic economics is determining and defining the goals of the Islamic economic system, ranking the goals, and formulating economic indicators. The behavioral value judgment also indicates the standards of desirable economic behavior. The structural value judgment also suggests recommending desirable institutional structures in areas such as property rights and government intervention. Finally, the policy value-arbitration including the policies and measures to improve the performance of the economic system within the framework of the institutional structure and behavioral standards are assumed. Although moral values are assumed in theory; but then they will be judged upon value and will be the basis of value advice of economists. Therefore, the cycle of values in Islamic economic theories can be explained by distinguishing between assumptions, judgments and value advice.

Although benevolent behaviors are an important part of economic activities, desirable behaviors are less studied in this section. Using a descriptive-analytical method, referring to Quranic verses and narrations and given the role of the charitable sector in repairing the shortcomings of market and government performance as well as the specific problems of charitable activities, this paper seeks to discover and present ethical principles governing the behavior of donors and recipients of charitable funds. According to the findings, the general rule in benevolent behaviors is to "helping others by self-sufficiency." Sub-rules governing helping others - as part of a Muslim's income allocation program, including taking care of others instead of satisfying his or her own desires, moderation in the distribution of income among social workers, moderation in the distribution of income between social care, current personal expenses and savings for the future, seeking divine satisfaction in charity, observing the priority of the recipients of help in the order of closest to closest, observing moderation, respecting the self-esteem and dignity of the recipients, supervision in granting and avoiding storing and allocating charitable funds quickly. Adherence to these rules and principles in the behavior of the charity sector will improve the performance of this sector and create a more appropriate institution to complement the performance of the market and the government.

The concept of "egoism" in the humanities and normative ethics explains the motivation of human behavior. From the point of view of the current economic literature, motives are largely confined to egoistic motives, and other motives are seen along with it. This approach is very common even in Islamic economics; with the difference that in conventional economics these egoistic motives are considered materialistic and worldly, but in Islamic economics spiritual and otherworldly motives. Using an analytical method, this paper studies the concept of psychological egoism in Allameh Mesbah Yazdi's attitude and its distinction with economic literature. Considering man's tendency towards God and others along with egoism, from the point of view of Ayatollah Mesbah Yazdi, limiting motives to selfish motives and psychological egoism is not easily acceptable. He also sees man's tendency towards God and towards others along with the motive of egoism, not in line with it. This view is distinct from conventional economics in terms of philosophical foundations such as deism, humanism, and from economic literature in terms of accepting non-selfish tendencies along with selfish motives and attention to the impact of moral values on economic behavior.

According to Islamic teachings, the experiences of the beginning of Islam and the Islamic Revolution, the strengthening of spirituality - meaning the deepening of faith and piety in society - is the most important infrastructure and factor of economic development. Spirituality is the esoteric state resulting from the deepening of belief in God Almighty and the feeling of His existence in life. According to this definition, conventional economics does not tolerate "spiritual economics" or "spiritual capital" because it is based on secularism, humanism, and liberalism, and the monopoly of the sources of cognition on sense and experience. Using a descriptive-analytical method, this paper shows that faith and piety in the first step, improve the productivity of human resources. Therefore, deepening faith and promoting piety and jihadi culture are interrelated with economic development. The faithful and pious man excels in the accurate and efficient use of natural, physical and monetary resources. The spiritual community does not tolerate stagnation and inefficient use of facilities as well as dysfunctional structures and institutions. Changing motivations and behaviors and redefining the structures and institutions of society, spirituality, leads governing institutions and the market to development.

After the victory of the Islamic Revolution in Iran and the establishment of the Islamic government, it was expected that zakat would play a very important role in Iran's economic management. Despite serious concerns about this matter and extensive scientific research in this field, a set of reasons, including jurisprudential issues, prevented the realization of this matter. Examining the jurisprudence of Islamic taxes along with its compliance with the conditions of the I.R.I. indicates that only some jurisprudential opinions on zakat allow systematization, which are mainly unpopular theories. Using an analytical method this paper examines 24 different jurisprudential scenarios in the field of the relationship between Islamic and conventional taxes in terms of precedence-delay and substitution-complementarity as well as jurisprudential theories on the inclusion of zakat and the capacity to benefit from it. According to the results, it is possible to use zakat in systematization in only 7 scenarios. Out of these 7 scenarios, in 3 cases, it is possible to give originality to zakat and to supplement the conventional taxes in the light of the obligation of zakat on money, zakat on trade and the inclusion of khums (one-fifth) on zakat. In 4 scenarios, it is possible to systematize zakat only by determining the cases subject to zakat, according to the ruler of the Islamic society. In the last 4 scenarios, the "same theory" has been proposed.

Due to Note 48 of the 1380 H. SH. Budget Law and Article 77 of the Law on Regulating a Part of Financial Regulations approved on 11/27/1380, the government is obliged to adjust its financial statistics in accordance with the proposed IMF guidelines called the Government Financial Statistics Manuals (GFS). This international guideline contains a set of accounting concepts, definitions, classifications and rules. Using a comparative-analytical method the findings of this study indicate the incompatibility of some principles, definitions, goals and requirements of this instruction with religious teachings and upstream documents of the country. The directive seeks to increase the transparency of countries' budgets in the interests of multinational corporations and to expand globalization policies. The effects of this directive on the country's budgeting not only did not improve transparency, but also led to harms such as irregular liberalization of pricing, minimizing governance intervention in the economy, limiting government revenue sources and the prevailing secular view in government spending. The combination of the requirements of this document with some of the existing procedures in the country's budgeting has even led to passivity in budget accounting, increasing the complexity of the budget document and prolonging the budgeting process. Existing problems necessitate the development of a local approach to the compilation of government financial statistics.

Given the expansion of cryptocurrencies in recent years, ambiguities have been created about its nature and functions. Using an analytical method this paper studies the nature of Bitcoin cryptocurrencies and its economic functions. To answer the question of whether bitcoin can be beneficial to the economy, it has been hypothesized that cryptocurrencies can cause confusion and disruption to the economy. According to the findings, cryptocurrencies, despite its benefits such as facilitating finances and reducing restrictive central bank supervision, can cause a number of economic problems. In this regard, Bitcoin, as the most widely used and valuable currency code, is an imaginary and unreliable currency and at any moment it can lose its credibility and cause a lot of damage to its owners. Currency cryptocurrency is associated with money creation, inflationary speculative and illegal activities. Therefore, Bitcoin and other cryptocurrencies are not in the interest of society's economy and policy makers should prevent its formation and expansion.