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Ijarah Asset Possession
In an Ijarah contract who has the asset’s possession and ownership and when is it transferred and on what consideration?
In an Ijarah, the lessor is the sole owner of the asset. The lessee is given usufruct of the asset for a particular usage over a particular period of time. Depending on the Ijarah, ownership may either remain with the lessor after the lease period, or the lessor may enter into a separate contract to transfer ownership to the lessee.

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