Question Summary:
Ijarah contract

Question Detail:

 Request to please provide opinion inregards to Shariah Compliance of MCCA & Amanah Islamic Finance

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Respected Brother in Islam

We have perused the attached documents.

According to the documents in reference, it is our submission that the Ijarah Muntahia Bitamleek of MCCA does not reflect a proper Shariah Compliant Ijarah. [1]

If we are provided with the contract details of Amanah Finance, we will advise accordingly. You may forward the documents to Darul Ifta Australia [The website is the official website of Mufti Faizal Riza Sahib, who trained under Mufti Ebrahim Desai Sahib and is currently based in Melbourne].

And Allah Ta’āla Knows Best

Anas Sharieff Qasmi.

Student Darul Iftaa

Hyderabad, India.

Checked and Approved by,
Mufti Ebrahim Desai

 ________

[1][An introduction to Islamic finance]

Actual secretarial expenses…pg-129

Penalty on Default-133

Basic rules of leasing-160

Penalty for late payment of rent-172

Insurance of the assets-174