In the name of Allah,

The Entirely Merciful, The Especially Merciful

Praise is due to Allah, Lord of the worlds, may the blessings and peace be upon our master Muhammad, the seal of Prophets, on his family, and all his companions.

Resolution No. 254 (16/25)

Revisiting New Issues in Contemporary Applications of Ijara Ending with Ownership

The Council of the International Islamic Fiqh Academy of the Organization of Islamic Cooperation, holding its 25th session in Jeddah, Kingdom of Saudi Arabia, on 29 Rajab – 3 Shaaban 1444H (20-23 February 2023),

Having considered the Academy’s resolution no. 44 (6/5) on the Rent-to-own Contracts,

Having considered the Academy’s resolution no. 110 (4/12) on Renting Ending in Ownership and Leasing Bonds,

Having considered the Academy’s resolution no. 115 (9/12) on Inflation and the Changing Value of Currency,

Having considered the Academy’s resolution no. 228 (12/23) on the Suggestions of the Committee established by the Secretariat General of the Academy to research some issues on Sukuk,

Having considered the Academy’s resolution no. 238 (9/24) on Hedging Transactions in Islamic Financial Institutions,

Having examined the research papers submitted to the Academy on Revisiting New Issues in Contemporary Applications of Ijara Ending with Ownership,

Having listened to the discussions and deliberations of the Academy’s members and experts,

Resolves

The Council of the Academy decided to postpone adopting a resolution therein pending additional research and studies, with the recommendation to organize a specialized symposium.

Indeed, Allah is All-Knowing.