The Concept of Ijarah and Ijarah Muntahia Bittamleek in Sudanese Islamic Banks

The aims of this study to review and analyze the concept of Ijarah and Ijarah Muntahia Bittamleek (IMB) in Sudanese Islamic banks. In conducting this study, the researchers used descriptive analytical methodology and the inductive method, as well as the comparative method to compare FAS No. 8 to IAS-17 in terms of accounting treatments. In addition, the applied method was used for the practical side of the study, which was based on financial reports from Sudanese Islamic banks. According to the study, the main difference between the two standards is that FAS No. 8 focuses on the legal aspect of financial transactions, whereas IAS-17 focuses on the economic aspect. The study also discovered that Sudanese Islamic Banks were committed to applying FAS No. 8 in terms of accounting measurement, but not in terms of financial report recognition, presentation, and disclosure. The study helps Sudanese Islamic banks apply FAS No. 8 in terms of recognition and accounting disclosure. The analysis of the Ijarah idea and Ijarah Muntahia Bittamleek (IMB) in Sudanese Islamic banks is pioneered in this study.