When evaluating lease securitization, ask one question first: does the investor own a real share of the leased asset, or only a claim to receive rent?
If there is real asset ownership, the investor also bears related ownership risk. If there is only a rent receivable, the instrument is fundamentally a debt claim and follows debt-trading rules.
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Leasing (إجارة): Sub-Lease, Assignment and Ijarah Certificates
When evaluating lease securitization, ask one question first: does the investor own a real share of the leased asset, or only a claim to receive rent?
If there is real asset ownership, the investor also bears related ownership risk. If there is only a rent receivable, the instrument is fundamentally a debt claim and follows debt-trading rules.