DefinePK

Abstract

Acquiring the benefits of a particular thing or the services of an individual is called leasing (Ijarah), which is permissible and practicable by Shari’ah. The jurists have mentioned its details briefly in ancient books. In the modern economy, this term and agreement are used in a modern way and for financial purposes. In this article, an analytical study of this modern type of lease is presented in the context of ancient jurisprudential teachings. In this regard, it has tried to identify the problems that can be solved according to the Shari’ah.
The main purpose of this study is to modernize the ancient teachings of jurisprudence and to present them in a practical way. Also, it aims at presenting the ancient teachings of the concept of Ijarah (Lease) in a modern way.
For the establishment of comparative Jurisprudence, it is imperative to consider all available sources and details of various jurisprudent schools of thought so that an analysis can be made in the contemporary world about the discipline of two centuries. The study concludes that the “Ijarah” has taken a different form in modern times which is used for financing purposes and Shari’ah encourages its adoption.