ASR Leasing Tajikistan has been certified by AlHuda CIBE.

lHuda CIBE FZ LLE Dubai, UAE has certified Asr Leasing, the first and only Ijarah company in Tajikistan. Ijarah is a rental based financing mode under the Shariah law. Asr Leasing has introduced first of its kind product in Tajikistan.

Asr Leasing LLC is one of the largest and fastest growing leasing companies in the Republic of Tajikistan. The company was founded on 23 January 2013 by the Islamic Corporation for the Development of the Private Sector (ICD), the private arm of the Islamic Development Bank and a group of local and foreign investors. Asr Leasing LLC continues is an important player in Tajikistan's leasing sector. During its operations in the leasing market, Asr Leasing LLC has established itself as a reliable strategic partner and has become one of the leading leasing companies in Tajikistan. AlHuda CIBE has reviewed and certified as it is a Shariah compliant rental based Islamic finance product.

Ijarah is a term of Islamic fiqh. It means 'to give something on rent'. In the Islamic jurisprudence, the term 'ijarah' is used for two different situations. In the first place, it means 'to employ the services of a person on wages given to him as a consideration for his hired services.' The second type of ijarah relates to the usufructs of assets and properties, and not to the services of human beings. 'Ijarah' in this sense means 'to transfer the usufruct of a particular property to another person in exchange for a rent claimed from him.' The rental agreement of the financing entered by the subject of the contract followed by term of the contract, grade of the contract, settlement procedure, and other conditions.

Muhammad Zubair Mughal CEO of AlHuda CIBE, expressed his views that many new Islamic Finance markets are seen to be emerging on the horizon in the world including Commonwealth Independent States (CIS) countries. Tajikistan is one of the emerging markets...