The Legal Ground of Interest-Free Lending in the Islamic Republic of Iran

The presented article is devoted to the study of the specifics of the legal regulation of interest-free lending in the Islamic Republic of Iran at present. It is established that the legal basis for this operation is both the rules of law and the provisions of the state religion of Iran — Shiite Islam of the Jafarite school. It is determined that despite the formal gratuitousness of interest-free lending, in a number of cases this principle is not applied. It is shown that interest-free lending has the right to be carried out only by special banking organizations. As a result of the study, the author comes to the conclusion that interest-free lending is a form of implementing the social character of the modern Iranian state.