Car lease on hire purchase : is sale of assets in Sukuk and buying them back prohibited ?
Fatawa Question
Dear Br. Dr. Monzer, I had a quick question from a discussion we had on Sukuk transaction while you were here. If an obligor sells an existing asset for a period of time (say 5 years) to investors, pays rent on it for the period, and buys back the asset at maturity-if I understood correctly you mentioned that this transaction is not Shari’ah compliant. You mentioned that this transaction resembles bai al-Inah, but is there any specific source that forbids this transaction ? Best regards, Habib
Fatwa
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Publication Date
2010-07-20
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Topics
- Islamic jurisprudence
- Foundations of Islamic jurisprudence
- Contracts
- ٌLeasing
- Ruling in Islam
- Automobiles
- Business
- Ownership
- Usury
- Deeds
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-732518
American Psychological Association (APA)
Qahf, Mundhir. 2010-07-20. Car lease on hire purchase : is sale of assets in Sukuk and buying them back prohibited ?. .
https://search.emarefa.net/detail/BIM-732518
Modern Language Association (MLA)
Qahf, Mundhir. Car lease on hire purchase : is sale of assets in Sukuk and buying them back prohibited ?. 2010-07-20.
https://search.emarefa.net/detail/BIM-732518
American Medical Association (AMA)
Qahf, Mundhir. 2010-07-20. Car lease on hire purchase : is sale of assets in Sukuk and buying them back prohibited ?.
https://search.emarefa.net/detail/BIM-732518