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Islamic Finance


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Ajeer


A hired worker or a person that is employed or commissioned to provide a service for a prespecified remuneration (ujrah). In ijarat al-ashkhas (hiring of people), a special worker or employee (ajeer khas) is hired to work for an employer for a specific wage (ajr) or a public/ general worker or an independent contractor (ajeer ‘aam) who performs some job or task to the benefit of another person (usually a client). In the former type of ajeer, the worker is employed for a known period to carry out a well-defined job, while in the latter, the worker is independent and works for himself. An example of ajeer khas is an accountant who is employed by a company to take care of its books and financials. Examples of ajeer ‘aam include tailors, butchers, shoemakers, consultancy firms, etc.

Ajeer is an Arabic term (أجير) that translates as hired worker, employee, etc.


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