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Islamic Finance

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Wakalah bil Ajr

Arabic (وكالة بالأجر) for paid agency; a wakalah in which remuneration (ajr or iwadh) is explicitly stipulated and specified in the wakalah contract (aqd al-wakalah) or is implicitly taken for granted based on customary practices (urf) as when the agent provides his services for commission/ fees in return. If remuneration is not specified in the contract (aqd), prevailing market rate (ajr al-mithl) may be used for comparable services.

This form of wakalah is subject to the shari’ah rulings on leasing (ijarah).


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