What is the ruling of Sharia on the amended leasing contract offered by Etihad Leasing Company?
Answer:
All perfect praise be to Allah the Lord of the Worlds. May Allah`s peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
Having examined the financial leasing contract of Etihad Leasing Company (Land and Real Estate), of which a copy is attached, it was made clear that this contract contains no violations of the rules of Sharia. However, the proper application of the contract is the liability of the parties to the contract as well as the Company`s management. Thus, we advise clients to read the contract carefully before signing it so that the contracting process is conducted on the basis of informed consent and full knowledge as there are some consequences of the contract on them.
We also advise this Company to hire an observer specialized in Sharia sciences to make sure that the contract is applied according to the rules of Sharia. And Allah the Almighty knows best.