Definition of "Ariyah"
A contract in which one party loans another the use of some item for an indefinite period of time. Ariyah is generally used to refer to the neighbourly lending of small articles.
Create Your FREE Account…
IslamicBanker helps professionals navigate Islamic markets by providing powerful insights, analytics and collaboration tools.
Ariyah means loan of a particular piece of property, the substance of which is not consumed by its use, without anything taken in exchange, In other words, it is the gift of usufruct of a property or commodity that is not consumed on use. It is different from Qard that is the loan of fungible objects which are consumed on use and in which the similar and not the same commodity has to be returned. It is also a virtuous act like Qard. The borrowed commodity is treated as liability of the borrower who is bound to return it to its owner.