Majid Pireh, Secretary of the Shariah Committee of the Securities and Exchange Organization, stated most of the resolutions of the Shariah Committee of SEO in 2023 were related to financing, and capital market, adding that we tried to create a structure regarding the development of financing products within the jurisdiction of this committee.

He underlined the committee of the SEO is responsible for reviewing the jurisprudential aspects of the issues. “In the capital markets that have activities in the Islamic domain, one of the issues in the field of operational risk is Shariah risk. Shariah risk is one of the indicators of operational risk, and to manage this risk, we have a multi-faceted structure consisting of Shariah committees and Shariah councils” Pireh said.

He went on to say that in developed Islamic capital markets, we use the concept of Islamic governance or Shariah governance, and the Shariah committee is one of the pillars of this Shariah governance system.

The resolutions of the Shariah committee in the field of development of financing instruments are as follows:

1- Salam bonds in a certain delivery period

2- Issuance of Man-fiat of Tapsi application program

3- Issuance of Murabahah bonds in EPC contracts

4- Murabaha bonds with floating yields

5- Murabahah bonds based on purchased assets

6- Issuance of Exchange-traded notes (ETNs)

7- Certificate of renewable energy

8_Crowdfunding

9_ Leverage ownership