GROWTH AND DEVELOPMENT OF LEASING BUSINESS IN BANGLADESH: AN EVALUATION

Authors

  • Muhammad Azizul Islam Discipline of Business Administration, Khulna University, Khulna-9208 Bangladesh.

DOI:

https://doi.org/10.53808/KUS.1999.1.2.311-317-mb

Keywords:

Lease financing; Lessor; Lessee; Financial lease; Operating lease

Abstract

Leasing is a contract between the owner of the equipment (lessor) and the user (lessee) that gives the lessee the right to use specific property, owned by the lessor, for a specific period of time in return for stipulated and generally periodic, cash payments (rents). It is an innovative and alternative way of financing our commercial and industrial undertakings. The business has become more and more popular day by day. Therefore an attempt has been made through this study to explore the lease financing in Bangladesh to trace out the historical backgrounds of leasing in Bangladesh. The study encompasses the operation of lease financing followed by three leasing companies IDLC, ULC, and PLC. The ownership and organizational structure of prominent leasing companies greatly contribute to the success of leasing business in Bangladesh. Leasing business will continue to grow in Bangladesh as a preferred means of acquiring equipment for its convenience and flexibility in financing.

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References

Annual Report (1992-1997), Industrial Development Leasing Company (IDLC), United Leasing Company (ULC) Ltd., Phoenix Leasing Company (PLC) Ltd.

Choudhury, A.J., 1999. Progress and Prospects of Non-Banking Financial Institutions in Bangladesh. Bank Parikrama, 14(1): 188-189.

Hamilton, J.J., 1992. Financial Decision Making: Concepts, Problems and Cases. Prentice Hall of India Pvt. Ltd., New Delhi, pp. 486-487.

John, H.M., 1964. Reporting of Leases in Financial Statements. Accounting Research Study No.4, New York, AICPA, pp. 10-11.

Jones, C.P., 1992. Introduction to Financial Management. Richard D. Irwin Inc., USA, pp. 599-600.

Keso, D.E. and Jerry, J.W., 1992. Intermediate Accounting. Seventh Edition, Von Hoffmann Press, Inc.

Khanam, K., 1995. Lease financing practices in Bangladesh: A case study of IDLC. Dhaka University Journal of Business Studies, 16 (2): 225-237.

Miller, M.H. and Upton, C.W., 1976. Leasing, buying and the cost of capital. Journal of Finance, Vol. 31, pp. 761-786.

Pandey, I. M., 1991. Financial Management. Vikas Publishing House Pvt. Ltd., New Delhi, pp. 1021-1022.

Research Report (Stamford Conn., FASB 1981). The Economic Effects on Lessees. FASB Statement No. 13.

Research Report (Stamford Conn., FASB, 1979). Accounting for Sales with Leasebacks. Statement of Financial Accounting Standard No. 28.

Research Report (Stamford Conn., FASB, 1980). Accounting for Leases. FASB Statement No.13 as amended and interpreted through May 1980.

Samuels, J.M. and Wikes, F.M., 1983. Management of Company Finance. Van Nostrand Reinhold Co. Ltd., U.K., pp. 310-311.

Yuji Ijiri (Stamford Conn. FASB, 1980). Recognition of Contractual Right and Obligation.

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Published

26-11-1999

How to Cite

[1]
M. A. Islam, “GROWTH AND DEVELOPMENT OF LEASING BUSINESS IN BANGLADESH: AN EVALUATION”, Khulna Univ. Stud., pp. 311–317, Nov. 1999.

Issue

Section

Management and Business Studies

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