Ijarah definition

Ijarah means an arrangement under which a bank leases equipment, building or other facility to a client against an agreed rental;

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Ijarah means the usufructs of assets and properties or to transfer the usufruct of a particular property to another person in exchange for a rent claimed from him.

Ijarah is term of Islamic figh. It means ‘to give something on rent’. In the Islamic jurispru- dence, the term ‘ijarah’ is used for two different situations. In the first place, it means ‘to employ the service person on wages given to him as a consideration for his hired service.’ the employer is called musta’jir while the employ is called ajir (exploremore institute of Islamic finance, 2020).

Examples of Ijarah in a sentence

The parties further agree that the Ijarah Arrangement shall take effect no earlier than the Transfer Date.
The Ijarah shall expire on the Lease Maturity unless the Diminishing Musharakah Arrangement is earlier dissolved in accordance with this Agreement and/or upon mutual agreement between the Bank and the Customer to terminate this Agreement, in which case any Lease Rentals paid in advance (if applicable) shall be returned to the Customer.
The term of the Ijarah shall be from the Transfer Date until the end of the Lease Rental payment period, unless earlier terminated pursuant to this Agreement.
Execution of this Agreement shall be deemed as an acceptance of the Property by the Customer to the Customer’s satisfaction for the purposes of the Ijarah contemplated herein.
The parties hereby agree that the Customer shall lease the Bank’s undivided portion of beneficial ownership in the Property based on the Shariah principle of Ijarah subject to the terms and conditions of the Ijarah Arrangement as set out in Tenth Schedule hereof.
Based on the Ijarah Contract and the Sukuk Ijarah Trusteeship Agreement, the Issuer acts as the mu’jir (lessor) and the Sukuk Ijarah Holder who is represented by the Trustee acts as the mustajir (lessee).
The Ijarah Reward Installment will be paid for by the Issuer through KSEI as the Paying Agent to the Sukuk Ijarah Holder through the Account Holder on the relevant Ijarah Reward Installment Payment Date based on the List of Account Holders.
The Sukuk Ijarah Holder who present at the RUPSI shall submit original KTUR to the Trustee.
The Trustee, at its sole discretion, also reserves the right to summon a RUPSI according to the provisions and procedures in the Sukuk Ijarah Trusteeship Agreement and in such a RUPSI, the Trustee will ask the Issuer to give explanation in relation to their default.
Sukuk Ijarah buy back can only be conducted after the announcement of Sukuk Ijarah buyback plan.

More Definitions of Ijarah

Ijarah means the usufructs of assets and properties or 'to transfer the usufruct of a particular property to another person in exchange for a rent claimed from him’.

Ijarah means “to transfer the usufruct of a particular property to another person in exchange for a rent claimed from him.” In this case, the term 'Ijarah' is analogous to the English term 'leasing'. Here, the lessor is called 'Mujir', the lessee is called 'Mustajir' and the rent payable to the lessor is called 'Ujrah'.

Ijarah is an Arabic world that means ‘to rent out something’. This kind of rent is used in two different cases. The first type is by hiring human services. The person who pays for the service is called ‘Musta’jir’, the person who offers the services is called an ‘Ajir’ and the money or the wage paid is called ‘Ujrah’. The second type is the rent of usufruct of assets or properties to another person. This type of Ijarah is known in English as ‘leasing’.

Ijarah means lease, rent or wage. An Islamic form of leasing is called „Ijara’. Generally, „Ijarah’ concept means selling the benefit of use or service for a fixed price or wage. Here the banks buy machinery or other equipment49 such as plant, office

Ijarah is lexically means 'to give something on rent'.