Dr. Ali Salehabadi, Chairman of the Iranian Association of Islamic Finance, said all the instruments and trading methods used in the stock exchange are reviewed in the Sharia Committee of this organization, so I declare that the country's capital market confidently is an Islamic market.

‘Therefore, any new instruments or trading methods that are used in the capital market will first be reviewed by the Sharia Committee and if they are approved, will be used in the capital market’, he said.

Ali Salehabadi mentioned that the Sharia Council of the Central Bank has a long way to go to reach the level and size of the Sharia Council of the capital market, adding the Sharia Committee of the capital market has a sub-committee in Qom that a few years after establishing the main committee was formed and in special cases the issues are referred to this committee in Qom for further investigation.

Salehabadi stated from the beginning of the establishing the Sharia Committee of the Exchange Organization until July 2019, approximately 34 thousand and 629 billion tomans worth of Sukuk were issued in the capital market, also except Sukuk, various non-governmental participation bonds amounting to 9 thousand and 600 billion tomans, 5 thousand and five hundred billion tomans worth of Salam bonds were issued until the end of June 2019. Moreover, about 100 thousand billion tomans worth of Islamic treasury bonds have been issued in the country's capital market until today.

He stressed in the past, the bank played a more pivotal role in the field of financing, but fortunately, with the measures that have been considered in the capital market, financing through the capital market can be one of the significant options for large economic enterprises along with the bank and responsible for financing these companies.

Salehabadi said the role of financing can be classified between the money market and the capital market and based on this, the micro-needs of small and medium-sized companies can be directed to the money market and large companies can be directed to the capital market for financing, too.

Then Dr. Seyed Abbas Mousavian regarding the sharia issues of the capital market said that due to the complexity of financial and monetary contracts that are either unparalleled in the beginning of Islam and date back to the last 100 years or weren’t advanced in this way, there was a desperate need to establish Sharia Committee in the Securities and Exchange Organization.

He stated financial markets, especially the capital market, have two important missions in financing companies, corporations and governments, as well as corporate risk coverage. These two missions required instruments such as issuing participation bonds, Ijarah, Murabaha, Salam, futures, etc., that the jurisprudential discussions of which was held in the specialized jurisprudential committee.