Leasing in Islamic Perspective and its Contemporary Applications.

Abstract

This research aims to explain the concept of leasing in Islamic perspective and its contemporary applications as well as to examine some modern leasing contracts applied in Islamic banks. In pursuance of this purpose, the first chapter focused on explaining the concept of leasing in Islamic perspective, its legality, the pillars and conditions of leasing with different perspective from the Fuqaha, the description of the lease and its ruling, the period of the lease, and the time at which the contract expires or is terminated. As for the second chapter, it focused on mentioning some types of modern leasing whose applications are permitted by Islamic law in Islamic banks, including Operating Lease, Finance Lease, and Leasing Ending with Ownership. Researcher also use induction methods of information related to leasing which are found in previous Fiqh books, research studies and the Internet. This research also depends on conducting a field study. The results from this research, anything new; modern leasing mentioned in this research for example, is not completely forbidden by Sharia if there is an interest and advantages to society.