جستجوی مقالات مرتبط با کلیدواژه "future contracts" در نشریات گروه "اقتصاد"

The purpose of this study is to evaluate crude oil swap of Iran with Caspian countries. In crude oil swap contracts, Iran can take two roles: "the Swapper" or "the Buyer and Seller". Also, receiving crude oil from the Caspian countries and delivering equivalent of value of that from the south of Iran can take place simultaneously and non-simultaneously. The datasets contain oil future contract price for period of 1999-2012. Life of swap is assumed to be 5 years. But, it is also increased to 7 years. The results show that It would be more beneficial for Iran to play the role of "the Buyer and Seller" than the role of "the Swapper" in swap contract. Finally, the longer the life of the swap, the higher profitability level will be.
JEL Classification: Q48, Q40, G13, G0

The significance of the stock exchange market in the economy has made its elimination from the novel economy almost impossible. The capacity in this market has embodied various transactions, which are identified in legal terms in order to discover their elements, institutes, relations and effects. Analyzing such transactions can reveal their situation in the civil and trading laws. Thus, Muslim thinkers and experts have no choice but to conduct a jurisprudent study comparing the common transactions with Islamic contracts. The present paper aims at a comparative study of the transactions in the stock exchange market and the Islamic contracts. In various types of common transactions in Iran, including the stock exchange of negotiable papers or goods, there are elements and relations that seem to be inconsistent with some Islamic contracts. However, given the widespread capacity of Islamic jurisprudence, other contracts can replace them. For example, instead of transaction of bonds and pawn brokerage-based sale of shares in the Stock Exchange Market which are not consistent with Islamic contracts can be replaced respectively with Sokouk ('coins') (Islamic stock exchange) and simultaneous advance purchase and sale.