This fatwa acknowledges the need for bond instruments based on shari'a principles designed to finance lease/rental transactions. The fatwa defines a shari'a bond as a long-term security issued by a public company to a shari'a bond-holder that obliges the company to pay as income to the shari'a bond-holder a share of the profit, margin or fee, and to repay the bond by a certain maturity date. It defines an ijarah shari'a bond as a shari'a bond based on an ijarah& …