An Islamic bank has been approached by a customer with a request for financing through a structure whereby the bank shall purchase a number of villas owned by the customer and lease them to the customer by way of Ijarah Muntahiya Bittamlik
Fatawa Question
An Islamic bank has been approached by a customer with a request for financing through a structure whereby the bank shall purchase a number of villas owned by the customer and lease them to the customer by way of Ijarah Muntahiya Bittamlik (financial lease) for a certain number of years, during which the customer shall gradually pay the rent which includes the bank’s investment and return. At the end of lease term, the bank shall sell the villas back to the customer at an agreed price. It is important to note that all villas are occupied by different tenants under tenancy contracts. What should be the suitable structure for the Islamic bank to finance the customer ?
Fatwa
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Publisher
Publication Date
2013-07-03
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-784612
American Psychological Association (APA)
Hassan, Husayn Hamid. 2013-07-03. An Islamic bank has been approached by a customer with a request for financing through a structure whereby the bank shall purchase a number of villas owned by the customer and lease them to the customer by way of Ijarah Muntahiya Bittamlik. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-784612
Modern Language Association (MLA)
Hassan, Husayn Hamid. An Islamic bank has been approached by a customer with a request for financing through a structure whereby the bank shall purchase a number of villas owned by the customer and lease them to the customer by way of Ijarah Muntahiya Bittamlik. Kuala Lumpur Malaysia : Islamic Finance News. 2013-07-03.
https://search.emarefa.net/detail/BIM-784612
American Medical Association (AMA)
Hassan, Husayn Hamid. 2013-07-03. An Islamic bank has been approached by a customer with a request for financing through a structure whereby the bank shall purchase a number of villas owned by the customer and lease them to the customer by way of Ijarah Muntahiya Bittamlik. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-784612
