Ijarah refers to the transfer of the usufruct of a property to another party in exchange for rent, similar to leasing in English. Although Ijarah is not inherently a financing method under Islamic jurisprudence, it can be utilized for financing purposes with specific structuring. i.e. a promise by the lessor to transfer the ownership in the leased asset to the lessee, at the end of the duration of the rental period. Further, there are key differences between conventional leasing and Ijarah.