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Paper Information

Journal:   JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)   winter 2019 , Volume 12 , Number 45 #p00531; Page(s) 213 To 242.

Bonds, a tool for financing oil industry projects (With emphasis on Islamic Treasury bonds)

Author(s):  Ahmadi S. Mohammadreza, Mahdavi Adeli M. Hossein*, Ahmadi Shadmehri M. Taher
* Ferdowsi University of Mashhad,Iran
The growth and development of each country depends on targeted and managedinvestment. One of the most important sectors of the Iran economy is the oil industry, which continuously needs basic investments, in order to continue to operate in line with domestic and international economic conditions. It is clear that investment also requires financing and the use of appropriate tools. The debt market is one of the most important and most effective components of modern economic and financial systems, so that it can be argued that both the economic theory and the experience of the various developed and developing countries in the last few decades indicate that the achieving to a dynamic, deep and efficient financial systemis not fundamentally possible without a healthy debt market with proper operation and adequate depth. Considering the conditions in Iran that need to pay enough attention to bonds on the one hand and support the country's revenue-generating artery (energy sales) on the other hand, directing the source of funds to oil industry projects should be the focus of attention in order tostrength the sources of productive power and wealth of the country by developing such resourcesBy using a library-descriptive method, this paper attempts to map out the appropriate financing solution for oil industry projects. One of the tools for financing in the debt market is the use of Islamic treasury bills. In this research, the use of Islamic treasury bills for the financing of oil industry projects has been outlined. The results show that using the graphic method of this research helps to reduce the amount bonds.
Keyword(s): Financial instruments,Bonds,Islamic treasury bills,oil industry
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