Açıklama | Paper presented to the Seminar on Islamic Financing Techniques organised by I.I.I.E. at Islamabad in December 1984. The first part describes definition, kinds and rules of ijara. The second part discusses the modern concept of leasing, hire-purchase, instalment-sales, economic role of ijara in BMR, capital goods industry, transport, medium and small sectors, and agriculture sector. Also discusses the application of leasing in foreign trade. Recommends leasing as a mode of financing in the Islamic economy. But has doubts about the legality of leasing in case of obsolescence and heavy losses to the lessee. Based on primary sources. Documented. For economists and bankers. |