Is it okay to return the property and terminate the lease early?

Not every lease agreement automatically gives the client the right to return the asset and exit at no cost.

Key points

• Ask the bank for a written early termination scenario: the rent due up to the termination date, the condition of the asset, any legitimate expenses or compensation under the contract, and what happens if the contract is a buyback agreement.

• Do not take possession of the asset before receiving a clear settlement.

Source

• AAOIFI — Sharia Standard 9: Ijarah and Ijarah Muntahia Bittamleek