The Milli Maclis held the first reading of the bill On Financial Leasing on 27 April 2026.
Under the bill, a lease would qualify as financial leasing if: (i) ownership of the leased asset is transferred to the lessee at the end of the lease term, or the lessee has the right to purchase it at a fixed or presumed price; (ii) the lease term exceeds 75 percent of the asset’s useful life; (iii) the asset’s residual value at the end of the lease term is less than 20 percent of its market value at the start of the lease; or (iv) total lease payments during the lease term equal or exceed 90 percent of that market value.
The financial leasing agreement must be in writing and include, among others, the description of the leased asset, its purpose and useful life, transfer procedure, lease term, maintenance and repair obligations, rights in respect of the leased asset, total lease payments, the lessor’s remuneration, payment schedule, and early performance or termination costs. Financial
