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Sharia Advisor
Muslim Commercial Bank Ltd.
Jamia Darul Uloom Karachi
at AlHuda CIBE ± NIBAF Islamabad.

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po another person for an agreed price, at an agreed consideration.
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Daluable, Identified and Quantified
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Anything which cannot be used without consuming cannot be leased
out; e.g., money, wheat etc.

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Corpus of leased property remains in the ownership of the seller.
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Must be determined in clear terms at the time of contract
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If no specific purpose is identified in the agreement, then it can be
used for any purpose for which it is used in normal course

 
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phe lessee is liable to compensate the lessor for every harm to the
leased asset caused by any misuse or negligence. phe leased asset
shall remain in the risk of the lessor throughout the lease period.

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Is permitted and rentals shall be distributed between all the joint
owners according to the proportion of their respective shares in
the property.

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phe rental must be determined at the time of contract for the whole
period of lease.
It is permissible that different amounts of rent are fixed for different
phases during the lease period, provided that the amount of rent for
each phase is specifically agreed upon at the time of effecting a lease.
phe determination of rental on the basis of the aggregate cost
incurred in the purchase of the asset by the lessor, as normally done
in financial leases, is not against the rules of Shariah.

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phe lessor cannot increase the rent unilaterally, and any


agreement to this effect is void.

phe lease period shall commence from the date on which


the leased asset has been delivered to the lessee.

Rental will be charged when the Leased asset is handed


over to the lessee.

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|. phe commencement of lease
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2. Rent should be charged after the delivery of the leased asset to the
lessee

  
 
 
   


 
         

       

3. Different relations of the parties
 
 

 
    
 
  

 
  
 

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 . Difference between Murabahah and leasing

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·. Expenses consequent to ownership to the lessor
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6. Lessee as Ameen
       
 
 

      

 



  
  




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ü. Dariable Rentals in Long perm Leases
  
  
 
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. Penalty for late payment of Rent
  





  

 
 
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9. permination of Lease
   
  
  
   
  

  

 

 

   
 
 

      




  
   
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| . Insurance of the assets
 
        
 

 

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||. phe residual value of the leased asset
 


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|2. Ijarah Wa Iqtina
   
 


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|3. Sub-Lease
  

                 

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