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Sales Lease

A type of lease in which a financier (a finance company, a bank) is and remains the legal owner of...

GRV

It stands for guaranteed residual value; it is the amount that both a lessor and lessee consider a final lease...

Guaranteed Residual Value

It is the amount that both a lessor and lessee consider a final lease payment, at the end of the...

URV

It stands for unguaranteed residual value; a part of the residual value of a leased asset whose realization by the...

Unguaranteed Residual Value

A part of the residual value of a leased asset whose realization by the lessor is not guaranteed exclusively by...

Ijara

A type of lease/ leasing that is compliant with shari'ah. It is a contract (aqd) of a designated usufruct (manfa'a)...

Useful Life of a Leased Asset

The useful life of a leased asset is either: the estimated remaining period, from the commencement date of the lease...

Non-Cancellable Lease

A lease that cannot be cancelled in ordinary situations by either party. However, it may be cancelled or become cancellable...

Lease

A contract in which an owner of property/ usable asset (a lessor) places it at the disposal of another party...

Capital Lease

A type of lease in which a financier (a finance company, a bank) is and remains the legal owner of...