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Case Sharia Banking (chapt. 9)
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Case of Sharia Banking about Ijarah Financing
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QUIZ SESSION 9QUESTIONS
1. Explain the meaning of Ijarah financing and give an example of Ijarah financing
2. Explain the difference between Ijarah and Leasing financing (make table of the difference)
3. Explain the picture scheme Ijarah financing
4. In the Ijarah financing pictured above, how if the goods were sold by Lessee (Musta'jir)
before the financing was due. Explain your opinion
ANSWERS
1. Based on PSAK 107; Ijarah is a contract in which there is a transfer of use rights over an
item within a certain period of time accompanied by lease payments by the beneficiary and
no transfer regarding the ownership of the leased item. There are two types of Ijarah contract:
rental services and goods leasing. The rental service is an activity to employ someone in
exchange for his services. The wage that musta’jir (the employer) gives to ajir (the
employee), is called ujrah. The goods leasing is an activity of transferring user rights to an
item in exchange for the use of the item. This contract has similarity with conventional
leasing, where the lessee called musta’jir, while the lessor is called mu’jir, the rental price is
called ujrah.
For example: an Islamic Bank purchasing a house for a customer, and adding management
costs. The customer then pays a rental fee until the total cost has been paid off, at which point
the ownership of the asset is transferred to the customer.
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