Evaluating the Impacts of Islamic Bonds Payment Method on Construction Contracts

نوع: Type: thesis

مقطع: Segment: masters

عنوان: Title: Evaluating the Impacts of Islamic Bonds Payment Method on Construction Contracts

ارائه دهنده: Provider: Farzad Aliyari

اساتید راهنما: Supervisors: Dr. Javad Taherinejhad

اساتید مشاور: Advisory Professors:

اساتید ممتحن یا داور: Examining professors or referees: Dr. Seyed Mehdi Hoseinian, Dr. Ebrahim Ghiasvand

زمان و تاریخ ارائه: Time and date of presentation: 16:00-18:00 ، 26/10/2021

مکان ارائه: Place of presentation: virtual

چکیده: Abstract: One way to finance government deficit spending is the issue of bonds that adjusting government costs and use of future revenues at present time. in Iran, according to large volume of government debts to contractors, banks and Central Bank government needs to determine financial instruments which could finance and pay debts. One of these methods is Islamic Treasury Documents that is novel financial instrument and have been used since 1394 as the way of payment to non-government organizations creditors. These bonds with maximum three years of maturity are issued by Treasury of the Ministry of Economic Affair and Finance and is one of the most important approaches to finance of construction projects. Contractors who need cash for finance their own financial resources have right to sell these bonds by the over- the-counter broker at the price of the day in the over- the-counter market. These kind of document have multiple risks such as other Islamic financial instruments. In this research the capability of these bonds to help the accurate execution of construction projects is going to be evaluated. To do so, 85 clients, consulting engineers and contractors point of views about the effect of these documents on governmental construction projects by interviewing them and completing questionnaires were gathered, processed and evaluated. This study shows the loopholes in the rules of these bonds, the lengthy money exchange process, delays on construction projects and lack of detailed calculations of these delays and at last turn the contractor which is considered as government executive sector into an investor who will face with bankruptcy. This research is able to have effective role for eliminating existing risks in construction projects financing

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