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Ihsaan Islamic Bank finance PKR 500,000 in the form of equipment to the fast food business of Mr. Rizwan through an Ijarah Muntahia bi Tamleek
Ihsaan Islamic Bank finance PKR 500,000 in the form of equipment to the fast food business of Mr. Rizwan through an Ijarah Muntahia bi Tamleek contract for a tenure of 10 years on a fixed rental of PKR 30,000 for the 1st year while the rental income for the subsequent years will be decided at the start of each year seeing to the economic conditions of the country that time. Rectify whether this transaction is Shariah complaint. If no, discuss the reason.
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