Ijarah

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 ?
While the four Shariah Standards of AAOIFI: Shariah Standard No 3- Default in Payment by a Debtor, Shariah Standard No 8-Murabahah to the Purchase Orderer, Shariah Standard No 9- Ijarah and Ijarah Muntahia Bittamleek; and Shariah Standard No13- Mudarabah, were notified in January 2016.
IFAS 1-Morabahah, IFAS 2- Ijarah, and IFAS 3- Profit and Loss Sharing on Deposits, respectively.
While the four Shariah Standards of AAOIFI, Shariah Standard No 3 pertaining to default in payment by a debtor, Shariah Standard No 8 pertaining to murabahah to the purchase orderer, Shariah Standard No 9 pertaining to ijarah and Shariah Standard No 13 pertaining to mudarabah, were notified in January 2016.
Flamboyant financing product Car Ijarah of Meezan Bank is Pakistan's first interest-free finance based on the Islamic mode of Ijarah (leasing).
The term in Murabaha-based finance contracts is seven years, while that of Ijarah is nine years (excluding the 12-month construction period).
While it also notified the four Shariah Standards of AAOIFI; Shariah Standard No 3- Default in Payment by a Debtor, Shariah Standard No 8-Murabahah to the Purchase Order, Shariah Standard No 9- Ijarah and Ijarah Muntahia Bittamleek; and Shariah Standard No.
Earlier, the SECP had notified three Islamic Financial Accounting Standards for adoption: IFAS 1-Morabahah, IFAS 2- Ijarah, and IFAS 3- Profit and Loss Sharing on Deposits in 2005, 2007 and 2013, respectively.
This paper explores the collaborating roles of various service cocreators, within an auto Ijarah service, to establishhow Islamic bank, customer, and supporting parties cocreate an Islamic banking service within a market, while using in depth narrative single case qualitative data analysis of an Ijarah manager and supporting documents.
Do you think that Auto Ijarah policy mechanism contains Riba (Interest) ?
The demand for Ijarah structured notes in many sectors, such real estate, aviation, equipment and other income generating assets, has seen a stable increase due to growing appetite for yield at the current low profit rate environment in many of the world's developed economies," according to Ayman Zaidan, QFB's Head of Treasury and Investment Management,
The Bank has been acting as a joint financial adviser to the Government of Pakistan for raising Shariah-compliant funds through Ijarah Sukuk and has played a key role in the launch of All Shares Islamic Index with the Karachi Stock Exchange (KSE).
Under the MoU, BankIslami will provide tailor-made financing packages to Audi customers across the country through its flagship product of Islami Auto Ijarah.