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Conventional Leasing vs Islamic Leasing

Author

Listed:
  • Violeta ISAI

    (Faculty of Economics and Business Administration, Dunarea de Jos University of Galati, Romania)

  • Riana Iren RADU

    (Faculty of Economics and Business Administration, Dunarea de Jos University of Galati, Romania)

Abstract

Leasing developed in time, from the simple form of renting to the modern modality of financial from nowadays, as an alternative for loan. It is present in the entire world, being used both by the financial specialized companies and banks, and the clients are companies and population. The object of leasing contract can be assets and also services, which are rented by the financier (lessor), on definite period, to the client (lessee), in exchange for a leasing rate (rent). The registering in accounting and the fiscal implications in the companies financial administration are different, according to the leasing form which they are using. The capitalist system has in view to obtain profit from renting, but the Islamic System, based on aria, forbids renting "haram" assets and services, obtaining interest from renting and using the leasing contract for the transfer of the property.

Suggested Citation

  • Violeta ISAI & Riana Iren RADU, 2014. "Conventional Leasing vs Islamic Leasing," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 3, pages 67-72.
    • Handle: RePEc:ddj:fseeai:y:2014:i:3:p:67-72
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