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Islamic Finance


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Ujrat


An Arabic term (correctly spelled ujrah) that generally translates as remuneration, wage, recompense, consideration, commission, rate, price, or fees, among others. Ujrah is usually paid or charged against services rendered, work done, tasks performed, etc. For example, in an employment contract, ujrah is the salary or wage paid by an employer to an employee in return for the work done by the latter.

Ujrah is also the rental or rate of rent (as in the contracts of ijarah) or ju’el (the fixed compensation/ reward specified in the contracts of jualah).

Ujrah may also have the meaning of ajr.


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