Развитие сотрудничества в области туризма между странами

1. Introduction to Ijara Contract

• Ijara – this tool is similar to leasing in the traditional financial system.
• According to the international standards of AAOIFI, an ijara is an operating lease, in which the institution buys the item and leases it to the customer for a rental fee.
• The agreement does not require a promise that the leased property can be transferred to the lessee at the end of the lease term.
• An ijara is basically the use of a third party’s property under the terms of a contract for a fixed fee.

M.Usmani: In Islamic jurisprudence, the term “ijara" is used in two different situations.

• M.Usmani: In Islamic jurisprudence, the term “ijara" is used in two different situations.
• First, it is "the use of someone's services for payment, this compensation is given to him as a reward for the services rendered.“
• The second form of ijara includes the use of property and ownership rights.
• This meaning of rent means "transfer of the right to use certain property to another person at the expense of collecting rent from it."
• The meaning of the term "Ijara" is similar to the English term "leasing".

A number of Sharia rules apply to the Ijara Contract:

First rule – hiyar ar-ruyo. The buyer has the right to cancel the contract if he encounters goods that do not correspond to the description.
Second rule – hiyar al ayb. We are talking about low-quality goods, that is, if the buyer finds a defect after the purchase, then he can cancel the transaction.
Third rule – hiyar ash-shart. In this case the parties may terminate the contract at any time subject to established terms or certain events.
Fourth rule – faskh. It is the cancellation and revocation
Fifth rule – iqola. It means covering the expenditures or changing the good

Types of Ijara: