معرفت اقتصاد اسلامی

Despite the emphasis of Islamic banking on partnership contracts, the actual share of these contracts in the banking system is small. One of the obstacles to development of these contracts is the risk of default due to malpractice in conditions of asymmetric information; where the bank, as the owner of capital, faces execution risks due to the lack of transparency of the agent's behavior. This research aimed to assess the feasibility of managing the risk of default due to malpractice in partnership contracts and with an emphasis on the moderating role of Web 3 technology. The study was conducted with a mixed approach and sequential exploratory design. In the qualitative section, the Delphi method was used to identify the components of malpractice and three main factors were extracted. In the quantitative section, the model Partial least squares structural equations (PLS-SEM) were used to test conceptual relationships. Data were collected through a questionnaire with the participation of 289 banking and fintech experts. According to the findings of the article, Web 3 technology, with tools such as smart contracts, distributed ledger, and data-driven monitoring, is effective in reducing malpractice risks; this technology has a significant moderating effect on the relationship between malpractice and default risk; also, information asymmetry has a significant effect on the occurrence of malpractice and the diversion of resources from contractual goals. Overall, the research provides a practical framework for managing default risk and utilizing new technologies in Islamic banking in Iran.