Imam Sadiq University"Islamic Finance Research" (IFR)2251-829012320230816A Solution for Implementing Partnership Contracts on the Blockchain Platform Using the Decentralized Finance (DeFi) and the IDO MethodA Solution for Implementing Partnership Contracts on the Blockchain Platform Using the Decentralized Finance (DeFi) and the IDO Method4735147674210.30497/ifr.2023.244290.1837FAMohammadYaghoubiPhD Student, Financial Economics, Faculty of Islamic Studies and Economics, Imam Sadiq University, Tehran, Iran0000-0002-7539-7597VahidSeyfiPhD student, Financial Economics, Faculty of Islamic Studies and Economics, Imam Sadiq University, Tehran, Iran0000-0002-8593-1634Journal Article20230529Examining the challenges of usury-free banking is one of the most important issues that the country is facing. One of the main challenges of the country's banking system is the implementation of partnership contracts. Due to the conflict between the characteristics of partnership contracts and the nature of the bank, the correct implementation of these contracts in the banking system is difficult. Also, considering that the correct implementation of partnership contracts in the Islamic financial system can have many positive effects, there is a need to provide a suitable and alternative solution for their correct implementation. In this research, while stating the theoretical foundations and challenges of the banking system in the implementation of partnership contracts, we will present a suitable and alternative operating model on the blockchain platform using the Decentralized Finance (DeFi) and the Initial Decentralized Exchange Offering (IDO) for the implementation of partnership contracts. . The proposed model is consistent with the most important features of partnership contracts, such as variable profit, participation , profit and loss sharing, and continuous monitoring of the good implementation of the project.Examining the challenges of usury-free banking is one of the most important issues that the country is facing. One of the main challenges of the country's banking system is the implementation of partnership contracts. Due to the conflict between the characteristics of partnership contracts and the nature of the bank, the correct implementation of these contracts in the banking system is difficult. Also, considering that the correct implementation of partnership contracts in the Islamic financial system can have many positive effects, there is a need to provide a suitable and alternative solution for their correct implementation. In this research, while stating the theoretical foundations and challenges of the banking system in the implementation of partnership contracts, we will present a suitable and alternative operating model on the blockchain platform using the Decentralized Finance (DeFi) and the Initial Decentralized Exchange Offering (IDO) for the implementation of partnership contracts. . The proposed model is consistent with the most important features of partnership contracts, such as variable profit, participation , profit and loss sharing, and continuous monitoring of the good implementation of the project.https://ifr.isu.ac.ir/article_76742_d4d9855ded932b48f87d82bcd572cd65.pdfImam Sadiq University"Islamic Finance Research" (IFR)2251-829012320230421Socially Responsible Investment Sukuk: A Systematic Review of the Scientific LiteratureSocially Responsible Investment Sukuk: A Systematic Review of the Scientific Literature5155567655510.30497/ifr.2023.243025.1709FARezaYarmohammadiPhD Student, Financial Management, Faculty of Islamic Studies and Management, Imam Sadiq University, Tehran, Iran0000-0002-1289-1256AliSalehabadiAssistant Professor, Financial Management, Department of Financial Management, Faculty of Islamic Studies and Management, Imam Sadiq University, Tehran, Iran0000-0003-1839-774xMohammadTahidiAssociate Professor, Financial Management, Department of Financial Management, Faculty of Islamic Studies and Management, Imam Sadiq University, Tehran, Iran0000-0002-1289-1256AdelAzarProfessor, Management, Department of Industrial Management, Faculty of Management and Economics, Tarbiat Modares University, Tehran, Iran0000-0003-2123-7579Journal Article20220426One of the recent developments in the Islamic securities market is the issuance of Socially Responsible Investment Sukuk (SRI), which focuses on environmental, social and governance (ESG) issues. Despite the dramatic growth of these papers over the past few years, only a handful of studies have addressed this issue. Therefore, the purpose of this study is to systematically review the literature on Islamic securities investment with social responsibility in order to provide comprehensive guidance for future research. A total of 383 articles from the Science and Scopus Network database were selected for analysis of bibliographic studies during the years 2000 to May 2021. The present study shows that the literature of SRI Sukuk is mainly in 10 areas: (1)definition of SRI Sukuk, (2)competitiveness, (3)types, (4)nature of risk and return, (5)terms and characteristics of plans and projects Eligible, (6)Defines strategies for selecting eligible projects, (7)Measures and indicators of effectiveness, (8)Potential actors, (9)Motivational policies and (10)Monitoring and reporting methods. However, there are very few studies on the criteria and indicators of effectiveness and the conditions and characteristics of eligible designs and projects of this type of sukuk. Research also shows that the United States, the United Kingdom, China, Germany, Australia, and Italy have done the most research on socially responsible investment sukuk.One of the recent developments in the Islamic securities market is the issuance of Socially Responsible Investment Sukuk (SRI), which focuses on environmental, social and governance (ESG) issues. Despite the dramatic growth of these papers over the past few years, only a handful of studies have addressed this issue. Therefore, the purpose of this study is to systematically review the literature on Islamic securities investment with social responsibility in order to provide comprehensive guidance for future research. A total of 383 articles from the Science and Scopus Network database were selected for analysis of bibliographic studies during the years 2000 to May 2021. The present study shows that the literature of SRI Sukuk is mainly in 10 areas: (1)definition of SRI Sukuk, (2)competitiveness, (3)types, (4)nature of risk and return, (5)terms and characteristics of plans and projects Eligible, (6)Defines strategies for selecting eligible projects, (7)Measures and indicators of effectiveness, (8)Potential actors, (9)Motivational policies and (10)Monitoring and reporting methods. However, there are very few studies on the criteria and indicators of effectiveness and the conditions and characteristics of eligible designs and projects of this type of sukuk. Research also shows that the United States, the United Kingdom, China, Germany, Australia, and Italy have done the most research on socially responsible investment sukuk.https://ifr.isu.ac.ir/article_76555_7146034614648cad695157ccf7bb4817.pdfImam Sadiq University"Islamic Finance Research" (IFR)2251-829012320230925Re-evaluation of Public Companies from a Jurisprudential and Legal Point of ViewRe-evaluation of Public Companies from a Jurisprudential and Legal Point of View5575947680810.30497/ifr.2023.244552.1836FAAmirhosseinEsesamiRevaluation of Assets; Public Company; Information Transparency; Luxury Transactions.0000-0001-7866-8519ZahraShiriIslamic Finance Researcher; & DBA Student, Islamic Financial Scientific Association of Iran, Tehran, Iran0000-0001-7866-8519Journal Article20230522Transparency of information and up-to-dateness of financial statements of joint-stock companies is one of the important elements in realizing market efficiency. During the last few decades, significant inflations in Iran's economy have doubled the need to reassess the assets of companies, especially public companies and capital market asset-based companies. In inflationary conditions, if the assets are not reassessed, the company's financial statements will not be a favorable report of the company's current situation. Since, from the point of view of famous jurists, shares are the common share of the company's assets, transparency in the description of the characteristics and characteristics of the sold item is one of the conditions for the validity of the sale, and if the description of the sold item is ambiguous in some ways and does not reflect the reality of the sale. , will face the transaction with the suspicion of being fraudulent. This research, with an analytical-descriptive method, has investigated the jurisprudence of the necessity of revaluation of assets in public companies. As a result, it can be said that in a situation where the inflation rate is significant and causes a significant difference in the value of book assets from their fair value on the day, in order to avoid suspicion of fraud in stock trading, especially asset-oriented companies. It is necessary to reassess the assets of these companies and reflect them in the financial statements.Transparency of information and up-to-dateness of financial statements of joint-stock companies is one of the important elements in realizing market efficiency. During the last few decades, significant inflations in Iran's economy have doubled the need to reassess the assets of companies, especially public companies and capital market asset-based companies. In inflationary conditions, if the assets are not reassessed, the company's financial statements will not be a favorable report of the company's current situation. Since, from the point of view of famous jurists, shares are the common share of the company's assets, transparency in the description of the characteristics and characteristics of the sold item is one of the conditions for the validity of the sale, and if the description of the sold item is ambiguous in some ways and does not reflect the reality of the sale. , will face the transaction with the suspicion of being fraudulent. This research, with an analytical-descriptive method, has investigated the jurisprudence of the necessity of revaluation of assets in public companies. As a result, it can be said that in a situation where the inflation rate is significant and causes a significant difference in the value of book assets from their fair value on the day, in order to avoid suspicion of fraud in stock trading, especially asset-oriented companies. It is necessary to reassess the assets of these companies and reflect them in the financial statements.https://ifr.isu.ac.ir/article_76808_ffafba921b7b509985a9ab639d63ffd4.pdfImam Sadiq University"Islamic Finance Research" (IFR)2251-829012320231023Qarar in International Oil and Gas ContractQarar in International Oil and Gas Contract5956247684810.30497/ifr.2023.243806.1848FAMohammad HosseinEsfandiarpourPhD. Candidate in International oil and gas contract management in Imam Sadiq University0009-0007-9668-7466AhmadShaabaniAssociate Professor, Faculty of Islamic Studies and Economics, Imam Sadiq University0009-0007-5997-5362Journal Article20230820International Petroleum Contracts (IPCs) has been made between Host Countries (HCs) and International Oil Companies (IOCs). By this kind of contracts, IOCs provide financial resources, technology and management necessary for oil and gas fields’ development and benefit from the produced oil and gas. Needlaess to say, due to various and broad operations, unpredictable increase and decrease in market prices, unforeseeable rservoire behavior, and in one word, Because of major technical and financial risks, there is a great uncertainty in both sides of the contract, the amount and conditions of investment and outcomes. From the Islamic jurisprudence viewpoint, those risks would cause “Qarar” and affect the validity of contract. For reviewing abovementioned hypothesis, first, the precedent studies has been examined and the consequent is only those uncertainties that may lead to dispute from commom sense view would enter “Qarar” into the contract. After that, this measuremen is applied to the IPC’s contents. At the end, it is concluded that it is not necessary for parties to know every aspect of the contract and its outcome in full and they could put the contract out of the “Qarar” area by implementing risk management tools such as price formulas, Adjustment terms and industrial standards. In other word, according to the oil and gas professionals’ course of conduct such risks could be waived and consequently, the common risks of these contracts can not affct their validity totally.International Petroleum Contracts (IPCs) has been made between Host Countries (HCs) and International Oil Companies (IOCs). By this kind of contracts, IOCs provide financial resources, technology and management necessary for oil and gas fields’ development and benefit from the produced oil and gas. Needlaess to say, due to various and broad operations, unpredictable increase and decrease in market prices, unforeseeable rservoire behavior, and in one word, Because of major technical and financial risks, there is a great uncertainty in both sides of the contract, the amount and conditions of investment and outcomes. From the Islamic jurisprudence viewpoint, those risks would cause “Qarar” and affect the validity of contract. For reviewing abovementioned hypothesis, first, the precedent studies has been examined and the consequent is only those uncertainties that may lead to dispute from commom sense view would enter “Qarar” into the contract. After that, this measuremen is applied to the IPC’s contents. At the end, it is concluded that it is not necessary for parties to know every aspect of the contract and its outcome in full and they could put the contract out of the “Qarar” area by implementing risk management tools such as price formulas, Adjustment terms and industrial standards. In other word, according to the oil and gas professionals’ course of conduct such risks could be waived and consequently, the common risks of these contracts can not affct their validity totally.https://ifr.isu.ac.ir/article_76848_38dbcc9d16431f8ec7bf1d0a455aa71a.pdfImam Sadiq University"Islamic Finance Research" (IFR)2251-829012320230925Examining the Methods of Guaranteeing Product Quality from the Perspective of Imami Fiqh, Iranian Law and European Union LawExamining the Methods of Guaranteeing Product Quality from the Perspective of Imami Fiqh, Iranian Law and European Union Law6256627680910.30497/ifr.2023.244520.1835FAAkbarMahmoodiProfessor, Mustafa International University, Tehran, Iran0000-0002-1261-1728Journal Article20230521According to the origin of the product quality, there are two types of obligation: mandatory and optional. Mandatory guarantee provisions are mandatory rules and there is no possibility of violating them and agreeing against them. Optional guarantee provisions are supplementary rules and according to the principle of sovereignty of will and the principle of freedom of contract, it is possible to violate them and agree against them. Product quality guarantee is divided into two types: one-way commitment and two-way commitment. In unilateral commitment, the guarantor imposes obligations on himself for the benefit of the consumer, and the consumer has no expectations. This type is realized in two forms, the first condition and the first condition, which does not need to be accepted by the consumer in both forms. All Imami jurists, Iranian jurists and European Union law consider unilateral commitment in the form of iqaa as necessary and binding. However, some Imami jurists did not accept the initial condition as binding; But other jurists of Imamia, all Iranian jurists and European Union laws have considered unilateral commitment as an initial condition mandatory. The bilateral obligation to guarantee the quality of the goods is of two types, depending on where the guarantee is inserted: the guarantee in the contract and the guarantee in the independent contract. In both types, the principle of guaranteeing a contract is separate from the first contract, and there is a similar one called customary guarantee. The two-way obligation to guarantee the quality of goods in terms of the guarantor is of two types: the supplier's guarantee and the third party's guarantee. The bilateral obligation to guarantee the quality of the goods is binding, which is resolved by liquidation or annulment of the contract. Product quality assurance is divided into two types: guaranteeing high performance and guaranteeing quality durability, both of which are rational and expected by many buyers; But there is a possibility to differentiate between the two in the product quality guarantee contract.According to the origin of the product quality, there are two types of obligation: mandatory and optional. Mandatory guarantee provisions are mandatory rules and there is no possibility of violating them and agreeing against them. Optional guarantee provisions are supplementary rules and according to the principle of sovereignty of will and the principle of freedom of contract, it is possible to violate them and agree against them. Product quality guarantee is divided into two types: one-way commitment and two-way commitment. In unilateral commitment, the guarantor imposes obligations on himself for the benefit of the consumer, and the consumer has no expectations. This type is realized in two forms, the first condition and the first condition, which does not need to be accepted by the consumer in both forms. All Imami jurists, Iranian jurists and European Union law consider unilateral commitment in the form of iqaa as necessary and binding. However, some Imami jurists did not accept the initial condition as binding; But other jurists of Imamia, all Iranian jurists and European Union laws have considered unilateral commitment as an initial condition mandatory. The bilateral obligation to guarantee the quality of the goods is of two types, depending on where the guarantee is inserted: the guarantee in the contract and the guarantee in the independent contract. In both types, the principle of guaranteeing a contract is separate from the first contract, and there is a similar one called customary guarantee. The two-way obligation to guarantee the quality of goods in terms of the guarantor is of two types: the supplier's guarantee and the third party's guarantee. The bilateral obligation to guarantee the quality of the goods is binding, which is resolved by liquidation or annulment of the contract. Product quality assurance is divided into two types: guaranteeing high performance and guaranteeing quality durability, both of which are rational and expected by many buyers; But there is a possibility to differentiate between the two in the product quality guarantee contract.https://ifr.isu.ac.ir/article_76809_d11ec591b969d3c0d24f85745bca781d.pdfImam Sadiq University"Islamic Finance Research" (IFR)2251-829012320210401Conducting a SWOT Analysis for Financing Through Initial Coin Offerings (ICO)Conducting a SWOT Analysis for Financing Through Initial Coin Offerings (ICO)6636947566310.30497/ifr.2021.239864.1579FASinaSarviPhD Student, Financial Management, Department of Financial Management, Faculty of Islamic Studies and Management; Imam Sadiq University, Tehran, IranMahdiNouriAssistant Professor, Faculty of Economics, Tehran University, Tehran, Iran0009-0005-0699-7408Mohammad HosinGavamAssistant Professor, Department of Financial Management, Faculty of Islamic Studies and Management; Imam Sadiq University, Tehran, Iran0000-0001-5556-7846Journal Article20201121Financing is one of the challenging issues for business owners no matter where they stand in the cycle of organization's life. The reason of failure for most of the newly started businesses (called startups) in their early stages is known to be the lack of cash resources. The problem of finance in Iran, no matter the source of it, whether from capital market or debt market, has had a long history. Initial coin offering could be a solution for this problem that could safely invest the increasing cash flow in the businesses. It was introduced in 2013 as a new method, utilizing the technology capacity of fintech's, and reached its peak in 2017, acquiring a worldwide name. The purpose of this study is to explain the different perspectives to this method which would be suitable for Iran's condition. This has accomplished by using GQR method while conducting semi-structured interviews with 12 experts on the subject. Advantaging from SWAT matrix, this paper attempted to offer a way to inform CEOs on the pros and cons of financing by this new method.Financing is one of the challenging issues for business owners no matter where they stand in the cycle of organization's life. The reason of failure for most of the newly started businesses (called startups) in their early stages is known to be the lack of cash resources. The problem of finance in Iran, no matter the source of it, whether from capital market or debt market, has had a long history. Initial coin offering could be a solution for this problem that could safely invest the increasing cash flow in the businesses. It was introduced in 2013 as a new method, utilizing the technology capacity of fintech's, and reached its peak in 2017, acquiring a worldwide name. The purpose of this study is to explain the different perspectives to this method which would be suitable for Iran's condition. This has accomplished by using GQR method while conducting semi-structured interviews with 12 experts on the subject. Advantaging from SWAT matrix, this paper attempted to offer a way to inform CEOs on the pros and cons of financing by this new method.https://ifr.isu.ac.ir/article_75663_9b32ee1b09c57c049c2c5d4b5eae8152.pdf