Document Type : Science - Research (Islamic Capital Market)

Authors

• Ali Hassanzadeh Sarvestani ¹
• seyd mohammad reza seyd norani ²
• fatollah tare ³

¹ Specialized doctorate in financial-Islamic economics, Allameh Tabatabai University (RA)

² Professor of all economic sciences at Allameh Tabatabai University (RA)

³ Associate Professor of Economic Sciences, Allameh Tabatabai University (RA)

Abstract

The health, efficiency and liquidity of the capital market and especially the stock exchanges are of particular importance. Common stock transactions account for a significant amount of Tehran Stock Exchange transactions, and this issue reveals the importance of careful attention and monitoring of these securities transactions. In addition to protecting the interests of legal investors, the establishment of appropriate regulations and serious monitoring of these transactions will attract new investors. Manipulation of common stock transactions in stock exchanges is one of the common phenomena of these transactions, which brings destructive effects, and supervisory institutions have been and are trying to reduce all types of manipulation. Also, the religion of Islam is full of valuable teachings in the field of transactions. One of these teachings is the prohibition of impurity in transactions. In this article, we are looking for an answer to this question, can some types of common stock transactions be considered as examples of fraud? We have used descriptive-analytical method to answer this question. In the descriptive part of this article, we defined common stock, explained the process of stock trading in Tehran Stock Exchange, the phenomenon of manipulation in common stock trading and Najesh. In the analytical section, we also examined the flow of prohibition of najesh in stock transactions. The result is that according to famous jurists, impurity is forbidden, therefore laws, trainings, mechanisms and crimes should be such that impurity does not occur in the stock trading market, but if impurity occurs and ordinary shares are sold, the sale is valid. But Mukhtar's opinion is that the option to cancel the deal by cucumber is for losers.

Keywords

• Islamic finance
• Imami jurisprudence
• Najsh
• common stock transactions
• Tehran Stock Exchange

Main Subjects

• Science - Research (Islamic Capital Market)