The Feasibility of Implementing Social Trading in the Capital Market of Iran

In the framework of Islamic Sharia, those types of financial instruments can be used in the Islamic capital market that fully meet the criteria and rules of jurisprudence and are useful from an economic point of view. Jurisprudential standards mean the general and private jurisprudential standards of contracts. In the article "Analysis of the nature and function of social trading from the point of view of compliance with Sharia" it was stated that social trading due to having the conditions of correctness of contracts and being free from jurisprudential obstacles such as, the unjust enrichment, uncertainty, loss and damage, gambling and usury is an irrevocable contract. and Its provisions must be adhered to. Examining the economic function of these transactions from the point of view of micro and macroeconomic criteria also indicated that social trading, in addition to being in line with the diverse goals and attitudes of investors, are in line with economic growth and justice, and it can be used in the financial policies of government. These transactions that affect the efficiency and liquidity of the market; By increasing the amount of investment in the capital market, increasing total production, fair distribution of income, curbing inflation and attracting foreign capital contribute to economic growth and the development of the capital market. Therefore, the correct use of this instrument in the capital market of Islamic countries is a great opportunity, and its use can help to improve the development and deepening of the Iranian capital market. For this purpose, in the current research, the possibility of adapting this instrument to the contracts approved by Islamic jurisprudence is investigated by the jurisprudential analysis method. Jurisprudential results indicate that the potential of these instruments can be used in Iran's capital market by using certain contracts such as reward, advocacy and lease.