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إجارة
Ijara (Islamic Lease) (EN)
A Sharia-compliant leasing arrangement where the financier (lessor) purchases an asset and leases it to the customer (lessee) for an agreed rental payment over a specified period. The lessor retains ownership of the asset and bears the risk of ownership (maintenance, insurance, obsolescence), while the lessee has the right to use the asset. Ijara wa iqtina (lease-to-own) includes an undertaking to transfer ownership to the lessee at the end of the lease term — commonly used for real estate and vehicle financing in the GCC. Ijara is also a key structure underlying sukuk al-ijara.