MP: leasing of Islam in the Russian Federation must not be contrary to civil norms

MP: leasing of Islam in the Russian Federation must not be contrary to civil norms


On Tuesday, the Deputy from LDPR Dmitry Saveliev proposed to the state Duma a bill that removes legal obstacles for the Commission of leasing transactions in accordance with the rules of Islamic Finance.

MOSCOW, 24 Nov. The introduction of Islamic leasing in Russia can be maintained, if its principles do not contradict the Civil code, according to the first Deputy head of the economic Committee of the state Duma Mikhail Emelyanov.

On Tuesday, the Deputy from LDPR Dmitry Saveliev proposed to the state Duma a bill that removes legal obstacles for the Commission of leasing transactions in accordance with the rules of Islamic Finance.

“Any leasing must be convenient to the consumer. But we must remember that any proposals must not contradict the Civil code and the principles of civil law. If the draft law does not contradict, it would be possible to support it,” said Emelyanov.

According to current regulations, to carry out leasing operations should be enclosed in one and the same time two transactions in relation to one property (rent and sale). The rules of Islamic Finance prohibit the combining of two transactions in one. To resolve the contradiction, the project allows to conclude these transactions at different times.