Most jurists described restrict Mudarabah to trading in commodities and do not extend it to pure services and leases. On that basis, they would not structure an Ijarah Fund through Mudarabah.
The Hanbali view described allows Mudarabah in services and leases as well, and some contemporary scholars prefer that broader view.
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Ijarah Fund and Sukuk: Real Ownership Behind the Certificate
Most jurists described restrict Mudarabah to trading in commodities and do not extend it to pure services and leases. On that basis, they would not structure an Ijarah Fund through Mudarabah.
The Hanbali view described allows Mudarabah in services and leases as well, and some contemporary scholars prefer that broader view.