نشریه جستارهای اقتصادی ایران
پیاپی 42 (پاییز و زمستان 1402)

Globalization and digitization, especially the emergence of innovative payment solutions from fintech and large technology companies, have prompted central banks to consider upgrading payment system infrastructure as well as the broader concept and provision of money. The supposed trend towards a cashless “society” has prompted central banks to consider issuing currency in digital form, known as “sovereign digital currencies” or “central bank digital currencies” (CBDCs). This issue has  increased the interest of policymakers and scientific communities in digital currencies of the central bank. The introduction of Central Bank Digital Currencies will mark the beginning of a new monetary era. A recent survey found that central banks representing a fifth of the world's population are likely to issue a CBDC "very soon," while 80 percent of central banks worldwide are considering issuing a CBDC.On the other hand, the COVID-19 pandemic has raised public concerns about the transmission of the virus through cash, thus increasing calls for the development of contactless payment methods such as CBDC.In general, one of the main goals of CBDC is to increase access to central bank reserves beyond the small territory of commercial banks for the general public; a concept sometimes referred to as "reserves for all". Therefore, cash will no longer be the only form of central bank money through which people can trade and save; rather, these things can be done with the reserves deposited in the central bank.CBDCs can reduce costs. They can be provided through digital wallets on mobile devices, reducing the costs associated with maintaining physical bank accounts and transaction fees. CBDCs may also lower the price of cross-border (and possibly domestic) payments by reducing intermediaries in the normal transaction chain through closer connectivity or direct access to central bank clearing accounts.The central bank's digital currencies can increase the resilience of the economy against shocks by increasing the efficiency of the payment system. However, its incorrect implementation may lead to increased systematic risks that reduce resilience. Therefore, the basic and safe design and implementation of the central bank's digital currency is important to maintain the resilience of the economy against shocks.According to the above, the main motivation of the present study is to explore the effect of the central bank's digital currency expansion on the resilience of Iran's economy using a dynamic stochastic general equilibrium model.

In this paper, a dynamic stochastic general equilibrium model was presented and estimated using the Bayesian approach and seasonal data in the period of 03.20.2004-06.22.2022.The parameters of the model are estimated using the Bayesian approach and the Random Walk Metropolis-Hastings algorithm. In this regard, the data of the observable variables of the model include seasonally adjusted data of GDP with and without oil, consumption expenditures, investment expenditures, government expenditures, foreign reserves of the central bank, consumer price index, and the growth rate of money has been used.

The results of the Markov Chain Monte Carlo diagnostic test of Brooks and Gelman (1989) showed that the parameter estimates are appropriate and reliable. The results showed that the increase in CBDC issuance causes an increase in the interest rate and a decrease in the real interest rate, which reduces the demand for cash, and increases the GDP, employment hours, and economic growth. This part of the results of the current research is consistent and similar with the results of Varshosaz et al. (2021), and Sokooti et al. (2022). The increase in production led to a decrease in inflation and an increase in the real exchange rate and foreign reserves of the central bank. This part of the results of the present study was consistent and similar to the results of the study of Barrdear and Kumhof (2022). Furthermore, considering the increase in transparency in the economy and the decrease in transaction costs, consumption expenditures and investment expenditures increased; and government spending and the ratio of government budget deficit to GDP decreased.In this research, following Briguglio and Galea (2003) and Farrugia (2007), the components of the central bank's foreign reserves, the ratio of government budget deficit to GDP, and inflation were used to analyze economic resilience:The reduction of inflation and the ratio of government budget deficit to GDP, and on the other hand, the increase of foreign reserves of the central bank, have led to an increase in economic resilience.

Policy recommendations: 

According to the results of the estimation of the model, it is suggested that the government, as a monetary authority, manage its expenses by issuing CBDC and thereby reduce the budget deficit. On the other hand, with the release of this type of currency and increased transparency in the economy, as an expansion policy, the requirements and circumstances will be created to increase economic growth.Declaration of Competing Interest: The authors have no conflicts of interest  to declare that are relevant to the content of this article.Acknowledgments: We thank anonymous reviewers for their useful comments greatly contributing to improving our work.JEL Classifications: C11, E31, E58.

While social science research has ignored the religious space and religion-based services for almost a century (Bielfeld and Cleveland, 2014: 443), the last three decades have seen the emergence of a new class of actors in the field of community development. They organize volunteers and provide services to citizens and even governments in the form of structures where faith in religions is the main pillar (Noor and Navi, 2023: 73-74) and we call them faith-based organizations.Faith-based organizations (FBOs) do not have an accepted and uniform definition. In summary, faith organization and community refers to a group of people who have the same faith and values ​​and especially interact with each other to cooperate and support each other. Their main goal is not to gain profit or material reward but to obtain divine satisfaction and sublime spiritual goals, and as Malmin and Malmin (2015) and Noor and Navi (2023) have emphasized, this is the characteristic that distinguishes them from other similar secular institutions such as NGOs. (Malmin and Malmin, 2015: 168 and Noor and Navi, 2023: 88).Having said that, although these social institutions have significant effects on development, social capital, resilience of society in crises, prevention of disasters with the help of volunteers, and especially solving the problem of poverty in society (Rivera and Nichols, 2014: 180-189); but in the growing literature on faith-based institutions, another motivation for exploring this field of study is the question we are now seeking to address. The question is, what is the relationship between them and the formation of a faith community, and what challenges do they face in this way?One of the ways they propose to change the type of society and reach an alternative society of capitalism is "faith society" which can be done through "faith institutions" as one of the paths of this transition. Now the question is, if we want to spread these structures to the whole society and form a community of faith, what problems are we facing? To answer this question, after stating the background of the research, we will first examine the challenges of these social institutions to uncover the relationship between these institutions and the formation of the faith community, and finally based on the understanding of the challenges, we will explain this relationship.

In this research, we are looking for an answer to the main research question with an analytical-descriptive method and within the framework of an institutional analysis. Through examining these institutions, we have taken into consideration that a part of them has a voluntary nature; because the other parts of these institutions, which are governed by the salary mechanism, have been discussed in detail in microeconomics, and therefore there is no need to repeat those discussions. It goes without saying that in this research, we take a large number of faith-based institutions as representatives and indicators of reaching a faith-based society; That is, the more the number of these institutions increases, the closer we will be to the community of faith, and conversely, the smaller their number, the further away we will be from the formation of the community of faith. Because it seems difficult to investigate the qualitative and internal characteristics and variables of a faith society, the number of faith-based institutions can be used as an indicator of them.

At first, it seems obvious that the relationship between faith institutions and the formation of a faith community will be positive; but when we examined these groups with a closer look and listed the possible challenges facing them, we gradually distanced ourselves from this crude and primitive notion and found a more objective understanding of the existing reality of these faith-based social institutions, away from mental imaginations.As it became clear in the examination of the challenges faced by religious organizations and groups, if the religious groups perform well and can overcome the challenges, positive feedback will be received from the society, which will lead to the increase of these groups, and as a result, that society will become closer to a faith-based society. Of course, sometimes the performance of these groups has such effects on the society that people participate in the creation and deepening of these groups in emotional reactions and in an upward way, as shown in Figure 1-A, Sometimes this happens in its normal way and not in an upward way, but with a gentle slope, it will enter the lower balance, as shown in Figure 2-b.Figure 1: Illustration of the positive and non-linear relationship between the number of faith groups and the formation of the faith communityBut if these groups do not show proper performance and cannot overcome the challenges, it creates a way of social divergence that will make the society further away from reaching the "faith based society". In this case, the negative effects may be of such intensity that the society will quickly distance itself from these groups in an emotional behavior, and therefore we will reach a social regression in a leap, as shown in Figure 2-a. Sometimes, this event will enter the lower equilibrium in its normal course and not in an upward way but with a gentle slope, as shown in Figure 2-b.Figure 2: Illustration of the negative and non-linear relationship between the number of faith groups and the formation of the faith community.

While at first, it seemed that there was a direct relationship between faith-based institutions and reaching a faith society, despite the challenges they faced, it became clear that the relationship between our institutions achieving a faith based society can be complex and non-linear and depends on various factors.Moreover, we note that the process of forming a faith based society is not a definite and mechanical process that starts from exactly one point and ends at the other point. In other words, if we define a deterministic process as a process that has a fixed and predictable result regardless of initial conditions or random factors, a random process is a process that always ends in a random or possible outcome depending on the initial conditions and accidental factors. It is better put that a deterministic process can be modeled by a mathematical equation or a logical law, while a stochastic process can only be modeled by a probability distribution or a statistical inference. Now, considering that the process of transformation and alteration of a society, which is condemned to the hegemony of capital, into a faith society is a multidimensional and dynamic process in which the range of changes flowing in all economic, social, political, cultural, and environmental fields, and transformation and transition are influenced by factors it is a lot like history, geography, institutions, culture, technology, resources, conflicts, and human factors, this process cannot be definite and inevitable and is inexorably a random process and and it is caught in many uncertainties. This process can appear in different forms according to risks and opportunities such as natural disasters, epidemics, wars, trade, immigration, and innovation.

Future contracts (that are defined as a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future) and manufacturing contract "Istisna" (that is defined as a contract in which the manufacture of goods is ordered by the customer to the manufacturer of the product by stating its characteristics and specifications, so that the manufacturer, by preparing the initial model, will make the desired product for the customer and deliver it to him in a certain period of time, in the Istisna contract the contract price is paid in installments until the due date and delivery of the goods) are two modern widely-used types of contracts, whose natures have been subject of Islamic jurisprudence (Fiqhi) - legal analysis. As such, to settle the Fiqhi complications, some suggest including them in the category of contracts of sale.If these are types of “contract of sale”, in most cases they stand as Sale of Credit for Credit – as many other new, widely-used contracts in the financial world are also types of Sale of credit for credit, which Fuqaha (an Islamic jurist, an expert in fiqh, or Islamic jurisprudence and Islamic law) are unanimous to be invalid.But because limiting our view to a number of Fuqaha leads to mistakes about the cases of Sale of credit for credit, we should first understand the true essence of Sale of credit for credit by making clear when the criteria for this contract are met and what relationship it has with the Sale of debt for debt.In the next stage, we have to validate the arguments presented for their invalidity. If the arguments are proven to be valid, in the last stage, we should suggest some Fiqh-approved solutions to meet the urgent needs of various markets for this type of sale.

In this study, we used the applied qualitative research method associated with a descriptive-analytical method to collect information from books, theses, and articles in libraries, software, and the useful links.From another point of view, to achieve all three goals in this mixed method, we used two methods of historical research and content analysis:In the first step, the old Fiqhi and lexical definitions of the Sale of credit for credit and other relevant sources were collected and analyzed to reach an exact explanation of the essence of this contract and its relationship to the Sale of debt for debt.In the next step, all arguments on the invalidity of this contract were gathered. Then the source of every Hadith (a form of Islamic oral tradition containing the purported words, actions, and the silent approvals of the prophet Muhammad) was validated and its relevance was explored. Moreover, an argument was made in favor of the Fuqaha unanimity to reject the opinions of those who do not see it authenticate. But because the arguments on the invalidity of this type of contract were supported, finally three alternatives for it were suggested to meet the market needs.

An important point about the Sale of credit for credit is that “to agree on some point in the future for mutual delivery” is seen as its only criterion by most Fuqaha and lexicologists. Paradoxically, according to the same sources we are convinced that the “generality of the mutual promises” is the other essential element of this contract, that is to say, even if one party’s promise is specific, the contract will no longer be a sale of credit for credit albeit the parties agreement on some point in the future for mutual delivery.Another contextual point is that the relationship between the sale of credit for credit and the sale of debt for debt is that of intersection. The sale of debt for debt is based on the parties’ commitment before making the contract by deed – even if it is the time for mutual delivery. In the sale of credit for credit, on the contrary, there is no parties’ commitment before making the contract by deed, but it allows for the forbearance for mutual delivery after the contract is made.As a result, it is clear that, among the arguments made on the invalidity of the sale of credit for credit, the argument on “Hadith prohibition of sale of debt for debt is fallacious because it only disallows those types of sale of credit for credit that are also cases of sale of debt for debt.The argument on “Hadith prohibition of sale of credit for credit”, however, seems to have no contradiction to Sunnah. Thus any possible faulty element in the Fuqaha unanimity on its invalidity cannot repudiate it.

There has always been dispute over the ambiguous approach of the Iranian Civil Code and other national laws on the invalidity of the sale of credit for credit. As a result, Article 10 of the Iranian Civil Code, which explains the principle of validity of contracts, should be approached with Article 4 of the Iranian Constitution in mind, asserting that “the initiation and generalization of laws contradictory to Fiqh is not valid [and enforceable] [3]”. To summarize, the arguments on the invalidity of the sale of credit for credit seem to be sufficient.All that said, in cases where two Muslims want to exchange two general goods by setting a time in the future, it is suggested to (1) use a conditional bill of sale; or (2) divide the sale of credit for credit to two contracts, to be specific, in the first contract they make promises on future mutual delivery, while in the second one there is no time conditions and the two goods are traded readily.Interestingly, Muslims can acquire the property of non-Muslims by sale of credit for credit, even if they are spared by the Islamic state.

Background of the problem:

 Studying the abundance of natural resources in Iran and its effects on other economic sectors is a very important and broad issue that has spread to other fields such as sociology, political science, and even technical issues. This issue is due to the importance of this section of the national economy and its impact on the surrounding world in critical and even non-critical situations. The first concept that comes to mind when natural resources are mentioned is the resource curse (also known as the paradox of plenty or the poverty paradox), which makes it difficult to accept natural resources as a growth factor. Empirical evidence indicates that most countries dependent on natural resources have low economic development. The high dependence of these countries on the wealth of natural resources can lead to a decrease in the ability to allocate financial resources, through high fluctuations in the real exchange rate and increasing uncertainty in investment decisions. The decrease in financial demand due to the contraction of the tradable sector also hinders economic development on one hand. However, strengthening the financial system can lead to a positive relationship between the wealth of these resources and economic growth in these countries by transferring the income from natural resources to productive investment and the real sector of the economy. On the other hand, the financial sector plays a central role in economic development and growth, because it plays an intermediary role in the allocation of resources to all sectors of the economy, by reducing financing costs and also encouraging savings and their optimal use, it is a significant matter and it contributes to long-term economic growth. Patrick, H.T. (1996) believes that the relationship between financial development and sustainable development depends on the degree of development of each country. In the initial stages of development, the improvement of financial services, the expansion of new financial instruments, and changes in the financial structure lead to economic growth, but in the continuation of the process of economic development, financial developments follow the demand for it, and the demand for newer types of financial tools and services becomes the determining factor and leads to the sustainable development of countries.The purpose of the research: The present study investigated the role of the abundance of natural resources, international trade, and financial development in the economic development of Iran, whether the abundance of natural resources has contributed to the economic growth and development of Iran, and to what extent the role of financial and commercial markets in Iran is that the application of the Kalman Filter Model is examined in detail. The development of the financial sector is very important in resource-rich countries. Because the income from natural resources is one of the most important sources of government income, if they can use these resources and the income attained from them to develop the financial sector, they can achieve economic development. Since the political, economic, and social conditions governing a country can affect how the income from natural resources affects the development of the financial sector of the country, then it can be said that the quality of the institutions of a country affects how the income from natural resources affects the development of the financial sector. Since the political, economic, and social conditions governing a country can affect how the income from natural resources affects the development of the financial sector of the country, then it can be said that the quality of the institutions of a country affects how the income from natural resources affects the development of the financial sector.

The present study examines the role of the abundance of natural resources, international trade, and financial development in the economic development of Iran for the years 1375 to 1400 (Iranian calendar) using the parameter estimation method with variable coefficients and the Kalman Filter Model.

The present study investigated the role of the abundance of natural resources, international trade, and financial development in the economic development of the country and applied the Kalman Filter Model from 1375 to 1400 (Persian Calendar). Economic development is widely affected by economic growth in economic literature. In general, the theoretical literature shows that the abundance of natural resources, international trade, financial development, trade openness, and institutional quality have a positive effect on economic development. However according to the results, the product of financial development and institutional quality in the abundance of natural resources and the inflation rate have a negative effect and the growth rate of oil revenues, commercial freedom, and physical investment have had a positive effect on human development and the country's production growth rate. The research findings offer some possible policy implications. Government institutions improve institutional quality by ensuring the rule of law, effective governance, and property rights. They are necessary to ensure the efficient use of abundant natural resources. Also, to improve the impact of international trade on economic development, regulatory systems should be implemented to minimize the trade deficit. The use of expert human capital, research and development, improvement of institutional quality, and financial development are approaches that can be used to increase investment attraction capacities. These factors better equip countries to benefit from technological advances resulting from international trade and trade openness. The stock market in the country should be strengthened because it is a more effective tool in the share of capital accumulation in economic development. Together, these initiatives boost economic growth, which in turn improves human development; the main channel of influencing financial development is done through increasing investment efficiency, quality of regulations, and reducing economic sanctions and governance indicators. Therefore, the way of financial market liberalization, the weakness of financial system management, the lack of formation of coherent financial markets, and the benefit of regulations in the country can be considered as the reasons for the reduction of investment efficiency through the sub-optimal allocation of resources in the country. As a result, more attention and care should be taken in the country to develop and make the financial markets more efficient, and as a result, allocate resources more efficiently and increase investment efficiency. It is also suggested that the country's banking sector, by optimizing its activities, should try to direct more credits towards productive investment projects of the private sector. Because of the prosperity of the private sector and the increase of competition in the country and the use of economic freedom policies, the development of financial markets has increased and leads to greater dynamism of the economy.

According to the results; the inflation rate, the product of financial development, and institutional quality hurt the abundance of natural resources and the growth rate of oil revenues, commercial freedom, and physical investment have had a positive effect on human development and the economic growth rate of the country. During the studied period, the elasticity of the economic growth rate compared to the financial development in the abundance of natural resources is less than unity and is equal to -0.28 and for human development is equal to 0.07. Furthermore, based on the results, the sensitivity of human development to the institutional quality in the abundance of natural resources is higher than other variables. In other words, the main channel of human development shows its institutional quality. The factor of political stability can have a significant impact on human development and production due to its connection with the outside world. While the possibility of political stability and institutional quality decreases, the motivation for investment decreases. The use of expert human capital, research and development, improvement of institutional quality, and development of financial markets are approaches that can be used to increase investment attraction capacities. Moreover, the prosperity of the private sector, the increase of competition in the country, and the use of economic freedom policies lead to greater economic dynamism.

Murabaha sukuk (Sukuk al-murabaha) is a type of Islamic financial instrument used by the government of the Islamic Republic of Iran for various financial purposes. According to the definition provided in the guideline of issuance on Murabaha, these sukuk serve as securities that represent ownership of debt acquired through a Murabaha contract. A key difference between general Murabaha and standard Murabaha is that, in general, Murabaha, the goods or services intended for purchase are not acquired in advance and are not facilitated by the  financial institution.The consistency of profit presents a significant challenge in evaluating general Murabaha, which reduces its appeal. In recent years, high inflation rates and fluctuations in interest rates have increased the demand for capital, making it unsuitable for available resources. Paying interest based on a market index (such as the interbank rate or inflation) canlead to inflated purchasing rates. In contrast, governments in other countries have adopted fixed-rate purchases to improve their performance and implement monetary policies.

The goal of this article is to identify a suitable model for determining the yield rate in Murabaha transactions. To achieve the paper's objective, the study first identified parameters for evaluating suitable models through expert opinions and an analysis of international practices. The indicators identified included applicability for services, consumer goods, and capital goods; the potential for utilizing all funds generated from sukuk issuance; Shariah acceptability; and the ability to link returns with various indices. Based on these indicators, we evaluated our models.This study utilizes library research to explore different flotation models for Murabaha sukuk, analyzing them from both Shariah and operational perspectives, and aligning them with established criteria. Two focus groups were formed to assess these models: the first concentrated on operational aspects, while the second focused on Shariah onsiderations.

The proposed models for floating returns in Murabaha sukuk were categorized into four groups: models based on debt adjustment, models based on gradual transactions, excess interest payments in the form of gifts, and utilization of investment funds.Considering the adjustment models, three specific approaches were designed and analyzed: adjustment within the contract, application of a discount method, and inflation compensation conditions. In these models, Investors' debt is adjusted based on the index.Adjustment within the contract refers to modifying the price ratio in the Murabaha contract. While this method is operationally efficient, it has not received favorable evaluations from scholars. The discount solution is applicable in the Sharī'ah perspective; however, significant increases in the index may hinder the ability to pay interest according to the capital reference index.Scholars have noted that the inflation compensation condition has not been widely endorsed and has faced numerous challenges. Investigations indicated that our view supports pre-due compensation based on the principle of action and the necessity of post-due compensation. Furthermore, this approach allows for transactions only when the return exceeds inflation.In the gradual transaction models, three distinct frameworks were identified: gradual Murabahah, Salaf and Murabaha, and Murabaha with guaranteed loans.In the final profit model, the originator procures the necessary raw materials on behalf of the investors and sells them on credit, incorporating a predetermined profit margin. This model allows for bulk purchasing of materials, with pricing determined by prevailing inflation rates and daily interest rates in the secondary bond market, facilitating profit negotiations.The Salaf and Murabaha model involves the originator acquiring all assets as a proxy from the original owners over multiple independent sukuk, subsequently selling the goods at specified intervals. The sale price in the second transaction is determined by a reference rate.In the Murabaha with guaranteed loans model, the originator initially purchases all goods as a proxy from investors. These goods remain on loan with the buyer, who, at payment intervals, acquires a specified quantity at an agreed price through a Murabaha sale, with the remainder provided as a secured loan. Ultimately, the buyer gains full ownership of the product by the end of the contract.Although these models are Shariah-compliant, their practical implementation is fraught with complexities that hinder effective execution and monitoring.The third model involves paying excess interest in the form of a gift. In this scenario, the originator collects funds, purchases desired goods and services and subsequently sells them on credit to themselves in a mutually beneficial transaction. The Murabaha rate for these goods is set at the base rate, with the originator committing to compensate investors for the difference between the Murabaha rate and the target index, in addition to regular Murabaha installments. Previously, the Shariah Committee of the Securities and Exchange Organization recognized the adjustment of contractors' debts to the government based on a specific index as a matter of good faith and legal obligation. Consequently, in inflation-proof Murabaha sukuk, excess interest may be disbursed to investors by legal obligations tied to the designated index. This model has been evaluated and found to pose no Shariah issues, meeting all efficiency criteria.In the last model, after gathering funds from investors, the originator purchases goods and services on their behalf, selling them at a higher price. Part of the resources are utilized for Murabaha operations, while the remaining funds are invested in a managed fund. The Murabaha rate mirrors the base rate in floating sukuk, with the originator required to cover the difference between the Murabaha rate and the reference index during each payment period. Although this model does not present legal challenges, it suffers from the limitation of not securing all funds for the government upfront, alongside complications in its execution.

Two focus groups were convened to identify the optimal model for interest rate flotation in government sukuk. The first group, which focused on implementation aspects, recognized the models of excess interest payments in the form of gifts and contract adjustments as suitable. However, the second group, which evaluated Shariah aspects, did not endorse the contract adjustment model. Ultimately, the method of paying excess interest as a gift was affirmed as an appropriate mechanism for floating interest rates.

In this research, the authors introduced and compared analytically two important models and approaches in the methodology of Islamic economics: 1- The first approach is a self-based and independent approach that seeks to extract economics from Islamic sources separately. 2- The second approach considers Islamic economics dependent on interaction with the findings of mainstream economics and favors a unified approach. Shahid Sadr (also known as al-Shahid al-Khamis was an Iraqi Islamic scholar and philosopher) favors the first approach and Anas Zarqa is an important representative of the second approach in Islamic economics. Shahid Sadr is one of the first researchers in the field of Islamic economics, whose views in the field of Islamic economics have been reflected in the valuable book "Iqtisaduna" (an objective study consisting of examination and criticism of the economic doctrines of Marxism, Capitalism and Islam. The book was written in order to state the foundations of the Islamic economy and its difference from other prominent economic doctrines.) His book has always influenced Muslim economists positively or negatively until today and has always been cited and referred to by scholars in this field. Anas Zarqa was trying to create a connection point from economics and economic trends to Islamic economics. He makes severe demands on bringing this branch of science closer to Islamization by adding different Islamic values ​​and teachings to the stream of economics and removing non-religious values ​​from it. In his opinion, an important part of conventional economics is the achievement of human science, which can be attained by combining it with religious knowledge to achieve a more complete and better approach. This is why he takes an interactive approach to different economic flows. (Zarqa, 2003: 8-11).The importance of this comparative current is that these two scholars are representatives of two different current-making approaches in Islamic economics, and these two approaches, over several decades in Islamic economics, have been highly regarded by other theorists in this field. Therefore; a comparative study of the opinions of these two philosophers and two points of views, along with the criticism and review of these views, can contribute to the enrichment of the literature of Islamic economics. Similarly, this comparison can guide us to adopt the appropriate approach and methodology in the Islamic economy.

Among the many literatures that have been written in the field of Islamic economics, some of these writings have the feature of entering into methodological discussions. The importance of these topics lies in the fact that, in addition to being written in the field of Islamic economics and helping to expand the literature on the subject, they have set a path for Islamic economics and have raised topics that are discussed by other writers in this field, followed in a way that is considered as a mainstream and guiding approach in Islamic economics. This feature applies to both Shahid Sadr and Anas Zarqa. In this article, we have used direct sources that have been written in this field to analyze the issue. Our most important source about Shahid Sadr is his important book "Iqtisaduna". In addition to that, we have also benefited from some of his other writings, such as the treatise "Al-Maktab al-Islamiya ", "Al-Bank al-Rabawi" and "Islam and Economic Schools". In some cases, these treatises play the role of explanation about the economic book. For this reason, they help to clear some ambiguities in the book of Iqtisaduna. About Anas Zarqa, important and new articles have been authored by him, where his most important and latest ideas about the methodology of Islamic economics are reflected. Anas Zarqa's article titled "Islamic Economy, Concept and Method" is specifically written about the issue of methodology. Also, some of his articles such as "Duality of resources in Islamic economy" have investigated the most significant challenges and methodological issues. In addition, in some cases, we have benefited from the existing literature on Islamic economics to clarify more of the methodological issues of Islamic economics. For this purpose, in some cases, we have paid attention to the most important theories of Islamic economics written by other Islamic economists.

In the comparative comparison of the methodology of Shahid Sadr and Anas Zarqa, some methodological points should be considered:1) Although Islamic economics and Fiqh can have common issues in many cases, the goals and issues of these two sciences are different, and therefore we should only consider the existence of a mutual relationship between these two scientific disciplines and not try to do so. that we want to consider these two scientific disciplines as one; Therefore, reducing Islamic economics as a branch of Fiqh is a mistake. (Salim, 2008: 293-289). .2) One of the turning points and useful topics in the methodology of Shahid Sadr and Anas Zarqa is that we should agree with this approach that Islam has both value propositions and descriptive propositions and that the propositions presented in religion are merely They are not value propositions, but they are both value and descriptive.Third) Regarding the issue of Islamic economics, we must say that if Islamic economics wants to be presented as a social science and we want to give it scientific dignity, it must be able to present general and universal propositions.Fourth) regarding the relationship between the Islamic economy and the conventional economy, it should be said that adopting the approach of Shahid Sadr and Anas Zarqa each has advantages and disadvantages. The integrated method proposed by Anas Zarqa can be a more favorable methodology if it is considered with the self-based method in Islamic economics.

In this article, the views of two important thinkers in Islamic economics, Shahid Sadr and Anas Zarqa, were comparatively described and evaluated. The differences and similarities between both economists were stated and the following results were obtained:The methodology proposed by Shahid Sadr is inextricably linked with Islamic Sharia. The economic school that he proposes is directly derived from Islamic jurisprudence. Also, Anas Zarqa also pays attention to the fundamental role of religious values ​​in Islamicization of the economy; therefore, both scholars pay great attention to religious knowledge in their methodology.Despite giving importance to religious knowledge, the type of perception of both of them is different about the way religious knowledge affects this branch of science. So Shahid Sadr and Anas Zarqa disagree with each other on issues such as the relationship between Fiqh and Islamic economics, as well as the relationship between Islamic economics and conventional economics, the realm of Islamic economics, and even the issue of Islamic economics.Among the various methods that are proposed in the field of Islamic economics, we must pay attention to the scientific aspect of the field of Islamic economics on the one hand, and its Islamic nature at the same time. To make the economy Islamic, we should not propose a method that causes the scientific aspect of Islamic economics to be forgotten and vice versa. For this reason, it is more reasonable if the methodology of Shahid Sadr and Anas Zarqa being taken into consideration at the same time.There is a fundamental difference between the two philosophers' views on Fiqh. Shahid Sadr's view of Fiqh is a maximalist view and we see a strong dependence of the Islamic economy on Fiqh, while Anas Zarqa believes in the interaction of Fiqh and Islamic economics and the extent of this relationship is limited.One of the interesting topics in this field is the evolutionary process of this science. Shahid Sadr and Anas Zarqa are not more than a few decades apart, but the diversity of the views of them is a positive sign of the evolution and existence of diversity in Islamic economics and the ability of this science to accept diverse and different views.