The research of The Practice of Financial Lease Contract of Leasing Companies in Islamic Law Perspective aimed at explaining how the practice of financial lease was conducted by Leasing Companies and the Islamic Law Perspective on the financial lease. The research is qualitative using descriptive qualitative method conducted through observation and direct interviews with the parties involved in the contract. Society is aware of leasing, multipurpose, and credit contract in order to fulfil their needs such as housing, cars, motorcycles, electronic gadgets, laptops, furniture. They can get the goods without having to have enough cash for the rest of the payment is paid by leasing companies. The consumers are obliged to pay the leasing companies through installment payment during the agreed time. Some leasing companies are even willing to finance the customers without down payment or interest. A Financial lease is actually a lease purchase contract with two contracts of leasing and purchasing (transfer of ownership) of goods which are paid using installment payment. The consequence of the financial lease contract is that the goods will be theirs if the consumers carry out their obligations and pay off the payments. However, if the consumers are late in paying or stop the payment, the goods will be taken back and the consumers will be fined. In Islamic law perspective, a double contract conducted at once is forbidden. The Prophet Muhammad PBIH once forbid that contract. How do Muslim societies approach this if the benefits of finacial lease is favoured since it is very helpful and make people easy to fulfil their needs? This is the urgency of the research to be conducted in order to find solutions and alternatives. Islam is rahmatan lil ‘alamin (goodness for the whole universe). Islamic law is applied to realize the objective of maqasyid syari’ah. The concept of Al-ashhlu fil asya’i al-ibadah states that all forms of muamalah (human relations in social interactions) are allowed as long as there is no Islamic law that forbids it. Benefis must be prioritized, and harms must be avoided. As an alternative, we can use Ijarah Muntahiyah Bit Tamlik, a lease purchase contract for ownership of goods with two independent contracts. The three elements in it are the objects of the contract are clear and known by both parties, the existence of both parties are known exactly. The legal basis of Ijarah Muntahiyah Bit Tamlik is strengthen by fatwa from Dewan Syariah Nasional (DSN/National Sharia Council), Fatwa Kompilasi Hukum Ekonomi Syariah (KHES/Compilation of Sharia Economic Law), International Fiqh Conference at Bait at-Tamwil al-Kuwaiti and World Fiqh Conference in Kuwait.