Document Type : Original Article

Authors

• Hosein Ali saadi ¹
• Mahmood Akbari ²

¹ Associated Professor of the Department of Fiqh and Islamic Law Foundations at Imam Sadiq(a.s) University

² Assistant Professor of the Department of Fiqh and Islamic Law Foundations at Ayatollah Boroujerdi University

Abstract

One of non-usurious banking contracts in Allocation of resources, is the hire-purchase contract replacing conventional methods of making loans in non-usurious banking. This kind of contract with extensive usage will be able to solve a major part of the needs of economic units. On the other hand it could be useful for clients because he pays the rent with more confidence and owning it at the end.
The central question of the research is juridical challenges about nature of hire-purchase contract in non-usurious banking. According to this article, the nature of hire-purchase contract faces different challenges like violation of “the contracts follow the intentions” principle, formalization of contracts, and ambiguity in conditions of hire-purchase contract. In this study, we analyze these items, finally, we will offer suitable juridical solutions

Keywords

• Nature of hire-purchase contract
• Lease contract
• Owning condition
• Non-Usurious Banking