Ijarat al-A'yan wa-Tatbiqatuha al-Mu'asira إجارة الأعيان وتطبيقاتها المعاصرة

Ijarah al-Aʿyan wa-Taṭbīqātuhā al-Muʿāṣirah

(إجارة الأعيان وتطبيقاتها المعاصرة)

Author: Prof. Dr. ʿAli Muḥyī al-Dīn al-Qaradāghī
Publisher: Dār al-Bashāʾir al-Islāmiyyah

About the Book

Ijarah al-Aʿyan wa-Taṭbīqātuhā al-Muʿāṣirah is a comprehensive, evidence-based guide to the Islamic contract of leasing tangible assets (Ijarah), combining the principles of classical Islamic jurisprudence (Fiqh al-Muʿāmalāt) with the practical requirements of contemporary Islamic finance.

The work grounds the structuring and execution of Ijarah transactions in a rigorous Shariah methodology. It draws on primary scriptural sources, the established positions of the classical schools of Islamic law, resolutions of major Islamic jurisprudence academies—including the International Islamic Fiqh Academy—AAOIFI Shariah Standards, and contemporary rulings issued by Shariah boards, conferences, and scholarly bodies.

In addition to explaining the essential elements, legal conditions, and governing principles of Ijarah, the book addresses practical issues such as liability and risk-bearing (ḍamān), maintenance (ṣiyānah), and the respective obligations of the lessor and lessee. It then translates these principles into operational frameworks for structuring contemporary financial products and provides criteria for internal Shariah auditing and compliance.

Key Features and Contents

• Foundations of Ijarah: Detailed treatment of the scriptural evidence, essential elements (arkān), legal conditions (shurūṭ), liability and risk-bearing (ḍamān), maintenance (ṣiyānah), and other rules governing asset leasing.

• Contemporary Applications: Practical frameworks for modern Ijarah structures, including:

  • Ijarah Muntahiyah bi al-Tamlīk — lease ending with transfer of ownership.

  • Ijarah Mawṣūfah fī al-Dhimmah — forward leasing, including applications in project and construction financing.

  • Sukūk al-Ijarah — Shariah-compliant leasing certificates based on underlying assets and usufructs.

• Practical and Operational Guidance: Step-by-step procedures for structuring and implementing Ijarah transactions in Islamic banks and financial institutions.

• Internal Shariah Audit: Practical criteria and guidelines enabling Shariah auditors and compliance officers to monitor, evaluate, and verify Ijarah transactions and ensure that their implementation conforms to Shariah requirements.

Part of a Renowned Applied Financial Series

This is the fourth volume in Prof. Dr. ʿAli al-Qaradāghī's important series of practical Shariah guides addressing contemporary Islamic financial contracts:

1. Volume 1: Salam (Forward Sale) and Its Contemporary Applications
2. Volume 2: Financial Rights and Their Monetization: Legal Feasibility and Contemporary Applications
3. Volume 3: Banking Tawarruq: Between Disciplined Fiqhi Tawarruq and Organized Banking Tawarruq
4. Volume 4: Leasing of Tangible Assets (Ijarah al-Aʿyan) and Its Contemporary Applications

Target Audience

This work is particularly valuable for:

• Shariah board members and advisors at Islamic financial institutions.
• Internal Shariah auditors and compliance officers.
• Islamic finance executives and product developers.
• Legal professionals dealing with Islamic financial contracts.
• Researchers and postgraduate students specializing in Islamic economics, finance, and commercial law.

Combining classical jurisprudential foundations with contemporary financial practice, this work provides both a scholarly treatment of Ijarah and a practical reference for its application in modern Islamic finance.