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1. The lessor is: a. The entrepreneur needing funds. b. Salem. c. Albaraka Bank. 2. Under IJara, the insurance and maintenance is (all Except): a.
1. The lessor is: a. The entrepreneur needing funds. b. Salem. c. Albaraka Bank. 2. Under IJara, the insurance and maintenance is (all Except): a. Normally covered by Takaful provided by the lessor. b. Paid by the lessor. c. Paid by the lessee. 3. ljara is: a. A contract whereby the lessee retains ownership of the asset b. A contract between the lessor and lessee for the use of a specific asset. c. A contract whereby the lessor pays rent. 4. The term 'usufruct', used with an ljara contract, means the right to enjoy property that is owned by someone else. a. True b. False 5. Under the ljara contract, the Bank will transfer the ownership of the air conditions by the end of the three years. a. True b. False
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