Hire-Purchase Contract and Barriers to it's Development in the Iranian Banking System

Despite being new, Hire-Purchase is a contract which has been expanded a lot and many people whether governmental or private even in international level conclude this type of contract. Furthermore, one of the means of granting the credits to persons in the Iranian banking system is Hire-Purchase contracts. The contract has many special capabilities, hence Iranian legislator considered it as an appropriate means for granting of banking facilities. However some problems have raised barriers to development of Hire-Purchase contracts in the Iranian banking system.