Is this lease-like financial transaction allowed in Islam?

The permissibility of lease-like financial transactions in Islam varies across different scholarly interpretations.

According to Sunni scholarship, as reflected in Sunan Abu Dawud, it is stated: I was asked about charging rent on land with gold and silver. I said it is permissible. In the time of the Messenger of God (peace be upon him), people used to lease land by paying with produce from new crops, streams, and crops, resulting in some being ruined while others survived. That was the only kind of rent at the time, so it was prohibited. But as for a fixed known amount, it is allowed. Ibrahim’s hadith is more complete in this regard. Qutaybah reported similarly from Hanzalah from Rafi'. Abu Dawud said Yahiya ibn Sa'id narrated from Hanzalah similarly. Sunan Abu Dawud 23:67SunniSahih (per Al-Albani) This indicates that fixed rental agreements are permissible, while transactions based on uncertain yields were discouraged due to the potential for inequity.

In Shia scholarship, Al-Kafi also addresses the topic. It states: Ibrahim ibn al-Muthanna asked Abu Abdullah (peace be upon him) while present about a man who rents land and then leases it for more than he rents it. He said, 'There is no harm in that, because land is not like a house or a renter. The excess of the tenant or the house is forbidden.' Al-Kafi 2:1055ShiaDa'if This suggests that leasing land for more than its rental price is acceptable, differentiating land from other types of property in terms of leasing.

Thus, both Sunni and Shia perspectives allow for certain types of lease agreements, particularly those that are fixed and agreed upon consensually. For a ruling that applies to your specific situation, consult a qualified local scholar.