In many Islamic leases, the client is appointed as purchasing agent for the institution. This creates two legal stages.
Before delivery, the client is purchasing agent (وكيل) and the institution is principal. After delivery, the institution is lessor (مؤجر) and the client becomes lessee (مستأجر). The obligations of these two stages should not be mixed.
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Financial Leasing (إجارة): When Does Rent Really Begin?
In many Islamic leases, the client is appointed as purchasing agent for the institution. This creates two legal stages.
Before delivery, the client is purchasing agent (وكيل) and the institution is principal. After delivery, the institution is lessor (مؤجر) and the client becomes lessee (مستأجر). The obligations of these two stages should not be mixed.