Example (1): a rental of his house in B for a total period of 5 years. The rent for the first year is set at 2000 billion euros per month and it is agreed that the rent for each following year will be 10% more than the previous year. The lease is valid. Ijarah wa-iqtina   is also called al ijarah muntahia bitamleek (“leasing that ends with ownership”).  Like an ijara thumma bay`, it can be both a lease agreement and a sales contract. However, in an ijara wa iqtina contract, the transfer of ownership occurs as soon as the taker pays the purchase price of the asset – at any time during the leasing period.  The Islamic finance theorist Muhammad Taqi Usmani lists in his work Islamic Finance: Principles and Practices Seventeen principles of “rental” (leasing referring to the Islamic leasing used by Usmani synonym with ijarah) on – although “the principles of Ijarah are so numerous that their full discussion requires a separate volume.”  Some of the rules include the agreement on the cost of the lease and the period during which it will last; Clear contractual terms assignment agreement for which the tenant uses the property to which he must comply; The lessor (owner of the leased property) wants to agree to bear all “debts arising from the property”, etc. Usmani lists eleven “fundamental differences between the contemporary financial lender” and the “leasing authorized by Shari`ah”.  One of the most privileged forms of all ijara contracts in the area of housing finance, Ijara-Musharaka or mating Ijara Mudaraba, both parties contribute, in some pre-established relationship, to the justice of the partnership. However, the bank acts as agent-cum-manager in this association. Once the property is purchased, the bank rents it out for rent to the customer whose amount and pay interval are set in the contract. This rent is actually paid by the customer to buy part of the bank`s share in the property.
There comes a time in the term of the contract when the bank`s share falls to zero and he ceases to own the property. It is permissible for different rent amounts to be set for different stages during the tenancy period, provided that the rent amount for each phase is expressly agreed upon at the time of the lease. If the rent for a later phase of the tenancy period is not fixed or if it is the owner on demand, the rental agreement is not valid. In this agreement, the person who needs immediate money sells an asset or property that he owns to the bank.