Question Summary:
FATWA ON IJARA CDC Question Detail:
Salam Alekum,
Answer :
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
DISCLAIMER:
Respected Brother in Islam
The document in reference is lengthy and required time to study and analyse. In the meantime, we had to attend numerous other queries.
Nevertheless, we have studied the contracts in reference and also the relevant information on Ijara CDC website. The following is our understanding of the product:
Shariah Ruling:
After studying the Ijara CDC model and analysing the documents, it is our submission that Ijara CDC is not Shariah Compliant. It contravenes the Laws of Shariah for the following reasons:
1. Ijara CDC acquires the property through a conventional mortgage.
2. Ijara CDC’s customer [lessee] signs an agreement that cancels the sharing of any loss by the Ijara provider. This agreement is contrary to the Shariah Laws of Leasing.
In leasing, the asset remains under the risk and ownership of the lessor throughout the leasing period. The lessee will be held liable, if he misuses the property or for his negligence. He cannot be made liable for factors that are beyond his control.
3. When a property is leased even if it is a “lease to own” agreement, the asset is owned by the lessor and not the lessee. Transferring the rights of a regular house owner to the client during the lease period and compelling him to pay for the losses is impermissible.
4. Bilateral promise.
In conclusion, Ijara CDC is not Shariah Compliant. [1] [2] [3] [4]
And Allah Ta’āla Knows Best
Anas Sharieff Qasmi.
Student Darul Iftaa
Hyderabad, India.
Checked and Approved by,
Mufti Ebrahim Desai.
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[1]الجوهرة النيرة على مختصر القدوري (1/ 212)
وقال ابن مسعود «آكل الربا وموكله وكاتبه وشاهده إذا علموا به ملعونون على لسان محمد - صلى الله عليه وسلم - إلى يوم القيامة» كذا في النهاية.
تبيين الحقائق شرح كنز الدقائق وحاشية الشلبي (4/ 85)
وأما السنة فما روي عن ابن مسعود أن النبي - صلى الله عليه وسلم - «لعن آكل الربا وموكله وشاهديه وكاتبه» رواه أبو داود وأحمد والترمذي
[2]الفتاوى الهندية - ط. دار الفكر (4/ 413)
غرقت الأرض المستأجرة أو انقطع عنها الشرب أو مرض العبد أو أبق سقطت الأجرة بقدر ذلك كذا في محيط السرخسي
عمدة الرعاية بتحشية شرح الوقاية (9/ 66)
وتسقطُ[(1)] بالغصبِ بقدرِ فوتِ تمكُّنِه
قوله: بقدر فوت تمكنه؛ حتى إذا فات تمكُّنه في جميعِ المدَّةِ سقطَ جميعُ الأجر، وإن فاتَ في بعضِها سقطَ بحسابه، فإن عرضَ في المدَّةِ ما يمنعُ الانتفاع كما إذا غصبتُ الدار من المستأجر إذا غرقت الأرضُ المستأجرة، أو انقطعَ عنها الشرب، أو مرض العبد، أو أبقَ سقطت الأجرةُ بقدر ذلك. صرَّحَ به في ((المحيط))، وغيره.
[3] IJARAH; AN INTRODUCTION TO ISLAMIC FINANCE[pg;157]
[4] Shariah Standard No (9): Ijarah and Ijarah Muntahia Bittamleek AAOIFI
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[1] Link 1
[2] Link 2
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