Sukuk ijarah is an alternative word order and spelling for ijara sukuk: Islamic investment certificates that give holders a share in the ownership of an asset, or of its use, which is leased to the party raising the money, with the rent providing the periodic return. The main entry explains the structure, its variations and its uses.
Both forms are in common use. "Sukuk ijarah" and "sukuk al-ijarah" follow Arabic word order and are usual in Malaysia, in the standards of AAOIFI and in many offering documents, while "ijara sukuk" follows English word order. The final "h" reflects a difference in transliteration only. The underlying lease contract is described under ijarah.
The lease-based form is among the most widely issued types of sukuk, particularly by governments, because it rests on a tangible asset and pays a rent that can be fixed or linked to a benchmark, and because certificates representing ownership of a leased asset can generally be traded at market prices. It is commonly compared with partnership-based forms such as sukuk musharakah and sukuk mudarabah. How issuers choose between them is discussed under sukuk structuring.