What is the ruling of Islam on surrogacy?

Womb rental is a method of artificial insemination in which sperm and an egg are taken from a couple and fertilized externally. The fertilized embryo is then implanted in the womb of another woman in exchange for money or voluntarily. Doctors resort to this method when the wife is unable to conceive despite healthy ovaries, or when she does not wish to conceive. Two resolutions have been issued prohibiting this method: one by the Islamic Fiqh Council of the Muslim World League in 1402 AH, and another by the Islamic Fiqh Academy of the Organization of the Islamic Conference in 1407 AH.