An ijarah contract that ends up with the transfer of ownership of leased properties/ assets from the lessor to the lessee at the end of the contract tenor. This type of ijarah (ijarah ended with ownership) may come in many forms, principal among which are: ijarah muntahiah bittamleek that entails full transfer of ownership after the last installment has been paid, ijarah muntahiah bittamleek that entails full transfer of ownership after the end of the contract and for a preset price, and ijarah muntahiah bittamleek which allows the lessee to choose from three options (purchase, renewal, termination) at the end of the lease tenor.
This type of ijarah is also known as financial ijarah (financing ijarah).
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