Ahli United Bank said... their Home Purchase Plans are such that the Lease and the sale contract to the purchaser are separate. The general option of Shariah scholars on Ijarah-Wa-Iqtina are as follows:- 'It is allowed that instead of a sale the leasor signs a separate promise to gift the leased asset to the lessee at the end of the lease period, subject to his payment at all amounts of rent. The Validity of this depends on two basic conditions: The agreement of Ijarah itself should not be subjected to signing this promise of sale or gift but the promise should be recorded in a separate document. The Promise should be unilateral and binding on the promise only. It should not be a bilateral promise binding on both parties because in this case it will be a full contract affected to a future date, which is not allowed in the case of sale or gift.'
Alburaq have said that... .this is a misunderstood issue, as this Hadith deals with uncertainty and hidden clauses. Our contracts are separate legal documents and deal with each issue individually.'
