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The financing of technological projects in the can be used to accelerate the growth, attract capital or supply liquidity to knowledge-based companies. The cooperative financing model in the framework of usury-free banking with the support of the real sector of the economy and the correct implementation of bank contracts play a key role in achieving Islamic banking system. The aim of the research is to identify the factors influencing investment in the technological projects of the incubation phase and to design the model of cooperative financing of the projects in order to create a risk distribution mechanism, attract people's participation, and support the knowledge-based economy. This is a development-applied research and the way of data collection is survey type. To collect data, a researcher-made questionnaire distributed among the experts of the risky investment system and the managers of the banking system was used. Factors affecting investment were identified in two sectors, including internal to the organization such as entrepreneurial team, product characteristics and technological company, and external to the organization such as technological business ecosystem and macroeconomic factors. The method of The Partial Least Squares regression (PLS) with the help of Smart Pialas software showed that the investment stages of technological projects have a medium and high impact on investment. Then, the proposed financing model was presented by using cooperative contracts according to the operational model and playing the role of bank intermediary in the usury-free banking system.

Oil futures contracts make it possible for all market participants to remain safe against the crude oil price fluctuations. Islamic Republic of Iran needs to import oil futures contracts to energy exchange for two reasons: First, its national income is highly dependent on crude oil price and instability in oil price leads to unstable economic situation. Second, Oil futures markets provide necessary instruments to reduce risk of oil deals, reduce volatility, increase flexibility and provide broader commercial dimensions to refiners and other buyers of petroleum and related industries. But now, exchange energy, due to jurisprudential constraints, is not able to use this powerful instrument of hedging risk, and this is incompatible with the implementation of economic resistance and resilience policies. This study analyzes financial nature of oil futures contracts and investigates the intend of the parties to the contract and shows that oil futures contracts are not, in any way, type of selling or obligation to selling because the acquisition and consequently delivery of asset are not intended by parties. Therefore, all of those jurisprudential obstacles are wrong about these contracts and are caused by the poor in recognizing the issue.

Adopting appropriate and efficient tools for risk management is a core element in managing a variety of risks. Insurance-Linked Securities are modern financial-insurance tools which have been utilized widely by the insurers to cover risks especially catastrophe related risks and massive risks. Moreover, these securities are financial tools that occur in life insurance securitizations. Heretofore, the risk securitizations have been inside the insurance industry and the operational models for issuing such securities on oil and gas projects' risks have not been presented to the literature yet. Considering the importance of oil and gas sector and also the high diversity and variety of oil and gas projects' risks and in order to diversify the risk management tools in the hands of oil and insurance industries, this paper has tried to develop a model for issuing oil risk securities based on Simon's theory of bounded rationality (1996). This model is consistent with conditions in Iranian oil and insurance industries and the Islamic juridical (Shari'ah) considerations for the corresponding investments.

The exchange rate is an important economic variable which affects other macroeconomic variables through different channels. This article estimates the effects of exchange rate shocks on macroeconomic variables of Iranian economy by applying Bayesian VAR method and using different prior functions like Minnesota and SSVS. The endogenous variables of the model are market exchange rate, monetary base, GDP deflator and GDP. The only exogenous variable of the model is the oil revenue of Iran. According to the result of the model, the BVAR-SSVS method offers the most precise forecast and OLS method has the least forecast power. At last, using the impulse response function, the effects of one unit shock in exchange rate on other macroeconomic variables has been assessed. The most important finding of this article is that, based on our data for Iranian economy, currency devaluation causes GDP to decline.

Islamic Economics can be taken as an integrated science which is so considered in recent years based on codified methods for integration of bi-disciplinary. These methods that are used in accordance with integration of bi-disciplinary approach in global academic sessions, can be categorized as: Parallel Disciplinary Approach, Multi-Disciplinary Approach, and Supra/Trans-Disciplinary Approach. Nevertheless integrated approaches already drew attention of so many experts as the most designated basis of Islamic economics design model. But, there is a significant issue that is natural difference of Islam and economics as two integrated disciplines. So that economics is a human science while Islam is a divine religion. Therefore mentioned methods have not any compatibility in Islamic economics science and needs deep understanding of islamic concepts (power of Ijtihad) as the complementary element. From the point view of the method, this research based on approaches of bi-disciplinary integration, while tries to propose its analysis about necessity of deep understanding of Islam, proves that in spite of difference in difficulty level of applying those approaches, deep understanding of Islam in any approach is vital, and direct joining of these two disciplines is not possible unless to be done by an expert one and this expertise cannot be accomplished unless with Ijtihad, comprehending in religion and this issue can be applicable and possible with due to different level of exegesis in shia fighh.

Credit risk is defined as a situation in which the liability itself and its interests are not paid back based on the terms determined in contract. In fact, it is considered as the most important risk each bank has to encounter, among the ones present in banking operations, which is actually because of bank's later life being dependent on it. Therefore, carefully taken into account, the factors effective on the risk and the sound management of it can guarantee the bank's stability and profitability. Though the current banking has taken the various dimensions of the issue into consideration, due to the different nature of Islamic banking, it is highly necessary to investigate the risk and, what is more important, to examine the attitude of Islam toward risk in general. Hence, the aim underlying the present study is to explain the attitude of Islam to the concept of risk and also to present a theoretical analysis through which to compare credit risk in Islamic banking versus current banking. Although the concepts of risk and gharar are similar in meaning in Islamic discussions, it seems that the two are distinct from each other, thus no criticism will be directed to contracts made on the basis of credit risk by the viewpoint of Islam. Research shows that despite being less flexible in making use of tools for the management of credit risk, Islamic banking has naturally different contracts and treaties and dissimilar surrounding conditions in the management of credit risk, which causes such banking to face theoretically less credit risk, leading to the removal of restrictions existing in the management of risk. Therefore, through having a sound management of credit risk, such banking can be more stable compared to the current banking.

The allocation of subsidies payment has been mentioned in both articles 46 and 47 of the Third Socio-Economic, and Cultural Development Plan. The global oil price fluctuations and their direct impacts on the Iranian national budget allocations has resulted in energy subsidies payment to be one of the most challenging issues in the Iran’s economy. The objective of this research is the assessment of inflationary impacts of energy subsidy removal by using an energy input-output price model. The findings indicate that the costs of production in the different economic sectors will rise following energy prices increase. The inflationary impacts in non-metallic mineral products, forestry, and petroleum products will be the highest while the electricity price increase has dominant role in price inflation. The significant changes will happen in the macroeconomic variables such as private consumption expenditures, government consumption expenditures, gross fixed capital formation, as well as exports.