Ijara: the basic principles and mechanisms of the lease agreement in the Islamic economic model

The article considers ijara, the mechanism of the Islamic economy, which is a form of lease that corresponds to the principles of Sharia. The relevance of the topic is due to the growing demand for Islamic financial products in regions with a predominantly Muslim population. The paper analyzes the rules and limitations of ijar in Islamic economic law. The article identifies four key elements of ijar: the parties to the agreement, the contract, the fee (rent) and benefit, as well as the conditions they must meet. The article provides a parallel between ijara and sale, emphasizing the key difference - the transfer of ownership. The authors conclude that the rental conditions in the Islamic economy are aimed at protecting the interests of both the landlord and the tenant. The article will be useful for researchers of Islamic economics and anyone interested in alternative economic models.