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Although Institutional repositories have been used as a strategy to improve the access to traditional scholarly content (such as e-prints) very often, their role in scholarly publishing has been discussed for a long time. Present study investigates the role of institutional repository as a scholarly publishing platform, and intends to propose an open access scholarly publishing model based on institutional repositories. For that purpose, related literature is reviewed to identify the current trends in scholarly publishing, open access movement and institutional repositories. Moreover, features of selected institutional repositories are discussed along with features of widely used institutional repository software platforms. The proposed conceptual model is developed accordingly. This study concludes that, by serving as a scholarly publishing platform, institutional repositories enable the institutes to take control of their research output while promoting accessibility to the institutional research in an open-access environment.