An ijarah transaction consists of two elements: a sales contract and a lease agreement. You go out and find the property we want to buy on your behalf. They negotiate the price and other aspects of the purchase. They make a first serious payment of money to book the property. They ensure that the sales contract allows the bank to enter into the transaction as a buyer. The bank then buys the property. In conclusion, the bank enters into an agreement for the sale of the property at a fixed price – the purchase price paid by the bank, plus the transaction fee that you did not pay at the close. The property property is transferred to you after this price has been paid to the bank. A payment plan will be established so that your payments are deferred over time in exchange for the rental of the property.  In some “financial lease” agreements, a condition has been established: in the event of termination of the tenancy agreement, including on the free movement of the landlord, the rent for the remaining tenancy period must be paid by the taker. This condition is clearly contrary to Sharia law and the principles of justice and justice. The main reason for inserting these conditions into the lease agreement is that the main concept behind the agreement is to grant an interest loan under the alleged cover of the lease. This is why every effort is made to avoid the logical consequences of the lease.
In fact, the simplest of all ijara contracts, simply ijara, is a form of operating leasing agreement in which the owner of the property or asset continues to exercise property rights, bears the costs of maintaining the assets and also bears the risks arising from its use. This is a short-term contract by which the tenant can opt out of the agreement at any time, albeit after notice. The total cost of equipment or assets is not depreciated during the first period of the agreement. The Islamic finance theorist Muhammad Taqi Usmani lists in his work Islamic Finance: Principles and Practices Seventeen principles of “rental” (leasing, which refers to the Islamic leasing used by Usmani with synonym ijarah) on – although “the principles of Ijarah are so numerous that their complete discussion requires a separate link.”  Some of the rules include the agreement on the cost of the lease and the period during which it will last; Clear contractual terms assignment agreement for which the tenant uses the property to which he must comply; The lessor (owner of the leased property) wants to agree to bear all “debts arising from the property”, etc. Usmani lists eleven “fundamental differences between the contemporary financial lender” and the “leasing authorized by Shari`ah”.  Simple tenancy agreement in which the lease remains the landlord`s property and returns after the lease expires.