Ijarah

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Ijarah

A type of lease compatible with Islamic law. Under the structure, the owner of a property gives the renter the ability to use the property in exchange for a periodic payment. The owner remains responsible for maintenance. Under an ijarah, the terms of the agreement must be clear and known to both parties.
References in periodicals archive ?
Ijara is a lease contract between the bank and the client.
By KARACHI, October 29, 2010 (Frontier Star): State Bank of Pakistan on Friday announced the issuance of a new 3-year Government of Pakistan Ijara Sukuk.
Summary: National Bank of Kuwait announced today that the Islamic KD Ijara Fund IV was fully subscribed in the first day of its offering period with a fund size of KD33 million.
Like conventional paper, sukuk carry maturity dates, coupons and yields and are structured on various modes: Murabaha (cost-plus trade financing); Ijara (lease financing or hire-purchase); Istisna (pre-delivery financing); Bal Salam (forward sales of commodities); and Musharaka (venture capital financing).
National Bank of Kuwait has launched its 'Islamic KD Ijara Fund II', which will offer private banking clients an investment product that generates monthly income of 6.
Kuwait, 07 September: National Bank of Kuwait (NBK) announced Monday that the offering period for "Islamic KD Ijara Fund II " ended only one day after it started after the collection of KD 30 million.
KUWAIT, Sept 7 (KUNA) -- National Bank of Kuwait (NBK) announced Monday that the offering period for "Islamic KD Ijara Fund II" ended only one day after it started after the collection of KD 30 million.
This is also the first Sukuk to utilize a computer software programme and intellectual property rights under an Ijara structure.
The license will allow the Company to continue operations in Saudi Arabia, providing Sharia compliant financing products such as; Ijara for Finance Lease, Ijara for Financing Production Assets, and Ijara for Financing SMEs.
Bank Nizwa's Property Finance has been designed based on the Sharia concept of Ijara, Murabaha and forward Ijara whereby the bank purchases or constructs a property for lease or sale according to the customer's request and plans.
The $230 million Ijara facility will sponsor the delivery of a new aircraft every two months begining January 2015, with the final sixth aircraft handed over by the end of the year.
Under the terms of the joint partnership, ICD will establish a world-class Islamic Ijara company in Bahrain to help SMEs succeed by offering Sharia-compliant financing products.