Legal analysis and the role of the pillars of investment funds in the stock market based on Islamic principles

Document Type : Original Article

Authors

1 PhD student, Department of Private Law, Khuzestan Science and Research Campus, Islamic Azad University, Ahvaz, Iran PhD student, private law department, Ahvaz branch, Islamic Azad University, Ahvaz, Iran.

2 Assistant Professor, Department of Law, Dezful Islamic Azad University, Ahvaz, Iran

3 Assistant Professor, Department of Ahvaz Branch, Islamic Azad University Ahvaz,

Abstract

Investment funds are financial institutions that obtain their activity license from the stock exchange organization and are mainly established by brokerage companies. The analysis of the legal nature of this institution, which has always been discussed since its recognition in the Securities Market Law approved in 1384, and even the Law on the Development of New Financial Instruments and Institutions in December 1388, could not explicitly define the legal nature of investment funds as well as relations specify rights between the executive bodies and the organizational structure of the mentioned funds. This research has answered this question by using a descriptive and analytical approach: What is the legal nature of the organizational structure of investment funds in the stock market based on and what opinions and views are there regarding the legal nature of the funds emerging in the stock market? For this purpose, in the current research, by applying the descriptive-analytical research method to clarify the legal nature of the structure and organizational elements of investment funds, in the analysis of its current legal structure, we analyze the legal analysis of the basic components of investment funds, such as investment managers, trustees, and guarantors. The research method in this research is a descriptive-analytical method, which collects information and data through the library-document method, and collects information through the retrieval of library resources and databases, related sites, and related theses, theses, and research articles.

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  • Receive Date: 25 June 2024
  • Revise Date: 21 July 2024
  • Accept Date: 06 August 2024
  • First Publish Date: 06 August 2024