In Ijarah, the lessor must bear risks arising from ownership. If the asset is destroyed by force majeure without lessee negligence, the lessee cannot be required to continue paying rent for a benefit that no longer exists.
A lease in which the lessor keeps income but transfers all ownership risk to the lessee violates the basic logic of Ijarah.
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Islamic Banking: Operational Mistakes and the Way Forward
In Ijarah, the lessor must bear risks arising from ownership. If the asset is destroyed by force majeure without lessee negligence, the lessee cannot be required to continue paying rent for a benefit that no longer exists.
A lease in which the lessor keeps income but transfers all ownership risk to the lessee violates the basic logic of Ijarah.