Said Chief Executive of Albaraka Bank Syria safe Aldrickzle that Decree 88 on the organization of sector hire-purchase agreement helps to provide important product will have a positive impact on a large segment of society, especially low-income and middle including the housing and the financing of small and medium enterprises, as well as to support the development economic development in some productive sectors through the provision of production inputs, pointing out that the decree is the first step in the lease pending the development of operational mechanisms to implement it.
In turn, said Deputy Minister of Economy and Trade Ghassan Eid in Specialized Conference’s first Islamic financial products in Syria, entitled “Applications of financial institutions in the hire-purchase agreement” that the finance lease will allow the financing of assets, movable and immovable manner by installment over long periods of time may end up ownership of the lessee to leased property, so that they can the investor to get on the machine, real estate or other assets without having to pay for it directly, and helps small and medium entrepreneurs and reduce the cost companies at the stage of establishment and avoid risks of buying machinery and real estate in the event of lack of liquidity or insufficient, in turn, the financial lease may exceed the funding commercial purposes or economic purposes to residential and tourism projects, industrial or residential, and allows the taxpayer to reap the benefits of ownership with the absence of any risk because the basic principle remains beset in ownership.
He drew the feast that the leasing product flexible comprehensive to meet the needs of many members of the society, which encourages the existence of rental companies Islamic contribute to the mitigation of property price inflation, and calls for Islamic financial institutions to implement the standards and controls legitimacy, leading to the success of Islamic banking, noting that the decree PLC 88 of 2010, establishing companies, an Islamic Ijara contribute directly to add a new component of the financial system and economic in Syria and enrich the economic and commercial life by meeting the need to lay the foundations controls for companies Ijarah guaranteed by the transfer of global expertise to the local market, and detail the mechanism used in the application service Leasing ending ownership of all aspects related to institutions wishing to establish an Islamic leasing companies to obtain financing or according to this formula. Attended the conference organized by the Ministry of Economy, Trade and advice and Dar Al-Baraka Banking Group by representatives of the Islamic financial institutions from the Middle East and North Africa and Turkey as well as local companies and businessmen and professionals and those interested in the work of financial institutions.
