مطالب

Iran allocated 6% of the world's natural disaster fatality, while the country only has one percent of the world's population. More than 40 natural disasters have been recognized globally. According to the evaluations carried out in Iran, at least 31 natural disasters have occurred locally. Domestic insurance capacity does not cover this volume of risk and the need for external reinsurance capacity is always felt. Catastrophe bonds structure as a financial innovative solution allows an issuing institution to transfer catastrophic exposures and risk to capital market’s investors by creating capital relief and additional risk capacity for Iran’s insurance industry. We adjusted formal cat bonds structure with the Islamic jurisprudence, as well as domestic regulations consideration. According to the research and interviews conducted and using thematic analysis research method, we finally suggested that the catastrophe bond instrument in Iran could be issued in the form of "insurance Sukuk" contract template, as a solution for transferring catastrophic risks to the Iranian capital market. Since this proposed structure have many aspects, the comprehensive implementation of it depends on cooperation between money market, capital market and insurance industry.

The Japanese government established the well-organized comfort system served by women during the Japanese colonial period, in which about 200,000 women were both physically and mentally abused by Japanese soldiers. In a bid to solve the “Comfort Women” issue between the victims (comfort women) and offenders (the Japanese government) during World War II, several justice mechanisms such as trial, tribunal, reparation programs, and resolution have been applied with no fruitful results. In addition, the Japanese government has never given a formal apology accompanied by a descent compensation through the public fund, despite the acknowledgment of wrongdoing by Japanese officers. The research question of this paper is about what makes the Japanese government refuse to offer a formal apology to comfort women for war crimes committed during World War II.This paper investigates the three factors discouraging the politics of apology. Those factors include state-led ideology, cultural, and geopolitical elements, which are deeply rooted in the regional politics in East Asia. East Asian countries share similar requisites, which are conducive to the development of the regional politics. The paper shows the politics of apology in Japan’s “Comfort Women” case reinterpreted within the regional context of structural, social, and geopolitical complexities unsuitable to reconciliation.