Islamic republic of Iran is one of the world leading oil exporter countries that mainly its gross domestic produst limited to it.

Oil is one of the strategic, principles and political commodity that its price volatility affected by many elemnts. As a result, fluctuations in government income and instability in economy increased.

For hedging related price risks, there was founded oil futures markets globally that by using derivatives and developed instrument control the risks.

There are no applications of these markets for Islamic countries, because their rules for contracts are in contrast with current legistlations and Sharia prohibited them.

In this dissertation, feasibilty study of developing an independent oil futures market in Iran analyse and there is a comparitive study according our principal rules in Islamic jurisprudence, economy and finance.

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