Iran falls short to Internationalize its Islamic financial market?
This article was first published in Islamic Finance news Volume 15 Issue 19 dated the 9th May 2018.
By Alireza Hojjatnia
Iran has been among the first nations to implement Islamic finance schemes, specifically on its banking sector by applying the usury-free legislation in 1983. Considering the standard framework adopted such as employing Sharia-compliant instruments both in Islamic and global markets, however, Iran falls behind in comparison with the international Islamic banking and finance community.