What kind of Ijarah is acceptable in Islamic banks?
The kind of Ijarah in Islamic banks is Financial Lease. The special feature in Islamic banks or Islamic financial institutions is that the procedure of Ijarah has been purified and is reshaped as Islamic financial lease, according to the Injunctions of Islam. There are certain defects in financial lease in conventional banks and it is for this reason there for the reason of which transaction is held as impermissible.
