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 ?
CHARSADDA -- A tenant woman set herself on fire in protest against police action to evict them from houses and land in Ijara village on Thursday while over a dozen people, including police personnel, were injured in clashes with the peasants and their female family members.
MANAMA: The latest issue of long-term Islamic leasing Sukuk Al Ijara has received subscription to the tune of 194 per cent, the Central Bank of Bahrain (CBB) announced yesterday.
The militants had earlier conducted a series of attacks, including a raid on Ijara police station in Garissa county, and made away with a police Land Cruiser.
By STELLA CHERONOKenya Defence Forces soldiers on Sunday killed five suspected Al-Shabaab militants believed to have been involved in the attack on Ijara Police Station in Garissa.
48 billion-equivalent, seven-year ijara facility denominated in dirhams.
The Ijara sukuk has a sale and leaseback agreement which makes it suitable if the issuing company has unencum- bered assets that are commercially leasable, such as real estate, ships or aircraft.
AUCTION SUMMARY OF 3 YEARS IJARA SUKUK BY THE GOVERNMENT OF PAKISTAN
7 percent during the quarter under review on account of issuance of Government of Pakistan (GoP) Ijara Sukuk of Rs 117.
In the UK, the idea of a rent-to-own scheme technically based on the long-established Islamic contract of ijara came up last year when the Liberal Democrats party proposed such a model for less wealthy Londoners for whom home ownership is normally out of reach due to sky-high real estate prices.
Several efforts are under way: the Securities and Exchange Organization (SEO) has approved the use by the government of lease-based Islamic bonds, known as ijara sukuk, which can be underpinned by creditor assets to help settle state debts owed to local firms.
La banque Zitouna a presente des offres produits Ijara valables trois mois au profit des entreprises et des professionnels dans l'objectif de booster l'activite economique, a souligne, mercredi, a Tunis, Taoufik Lachheb, DG adjoint de la banque specialisee dans la finance islamique.
In 2014, the company received a new license from Saudi Arabian Monetary Agency (SAMA) that allowed Gulf Finance Corporation to practice in three finance activities - Ijara for finance lease, ijara for financing production assets, and ijara for financing SMEs.