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Benchmarking Ijarah Rentals
Is it permissible to benchmark Ijarah rentals?
This relates to whether it is permissible to omit specifying the Ijarah rentals at the time of executing the contract; instead, agreeing on an "equivalent rent" that is either benchmarked against a known and acknowledged standard or is identified by expert appraisal.

Islamic jurists are at a consensus that, while it is necessary to fix the amount of rental for the first period of rental payment, the rentals for the remaining period may be benchmarked against known and acknowledged standards or be open to expert appraisal.



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