Leasing in general : a question on Ijarah, is it a sale of services ?

Fatawa Question

I am Omar from Syria currently studying in …………. Institute of higher education in England, preparing my project for MA degree in Islamic banking and finance about Ijara contract in Islamic banks, I have come across the sale of services by which the bank buys the service, say education from the university then sells (not rent it) to the customer against fixed price paid by the customer in installments, my question is can we consider this transaction as Ijara or it should be a sale ? And is this practice permissible in this form from the Shari'ah perspective ? Jazaka Allahu Khayrn for your time to consider my question. Yours truly,

Fatwa

Click hereto view more

Publication Date

2006-08-18

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-788616

• APA
• MLA
• AMA