07-12-2003, 02:20 AM
Ijarah is not a favorable financing option in islamic finance...and closely follows modern leasing....
It has been a consensus among ulemas that it may be allowed as a transitional mode of finance till musharka takes hold of all sorts of so called financing transactions.
Please read taqi usmani's islamic finance which gives a good overview of all modes of finance.
.... I agree with you that how can ICAP come up with a transitional mode as an Islamic standard..LOL
It has been a consensus among ulemas that it may be allowed as a transitional mode of finance till musharka takes hold of all sorts of so called financing transactions.
Please read taqi usmani's islamic finance which gives a good overview of all modes of finance.
.... I agree with you that how can ICAP come up with a transitional mode as an Islamic standard..LOL
