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 agreement, taking heed of the content of Fatwa No. 9 of 2000 on Ijarah Financing. An ijarah shari'a bond-holder may act as a leaseholder (Musta'jir) as well as a lease-giver (Mu'jir).