Ijara simply means a leasing or employment contract. There are two types of Ijara, the first being a contract of renting, hiring or leasing. The second is Ijara Wa Iqtina, which is also called Ijara Muntahiya Bitamleek, which is leasing with an undertaking from the Leasor to sell the equipment or the facility at the end of the rental term or to provide the leased property as a gift to the Lessee provided the Lessee pays the entire required rental within the specified period.


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