Difference between revisions of "Price Control in Islam"

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'''Price Controls''' are government restrictions placed on sellers to maintain prices. This page examines price controls from an Islamic perspective.
 
== Sources used as evidence against price control ==
 
== Sources used as evidence against price control ==
 
{{Quote Hadith
 
{{Quote Hadith

Revision as of 21:54, 16 June 2020

Price Controls are government restrictions placed on sellers to maintain prices. This page examines price controls from an Islamic perspective.

Sources used as evidence against price control

The people said: Messenger of Allah, prices have shot up, so fix prices for us. Thereupon the Messenger of Allah صلی ‌اللہ ‌علیہ ‌وسلم said: Allah is the one Who fixes prices, Who withholds, gives lavishly and provides, and I hope that when I meet Allah, none of you will have any claim on me for an injustice regarding blood or property.

قَالَ النَّاسُ:‏‏‏‏ يَا رَسُولَ اللَّهِ، ‏‏‏‏‏‏غَلَا السِّعْرُ، ‏‏‏‏‏‏فَسَعِّرْ لَنَا. فَقَالَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ:‏‏‏‏ إِنَّ اللَّهَ هُوَ الْمُسَعِّرُ الْقَابِضُ، ‏‏‏‏‏‏الْبَاسِطُ، ‏‏‏‏‏‏الرَّازِقُ، ‏‏‏‏‏‏وَإِنِّي لَأَرْجُو أَنْ أَلْقَى اللَّهَ وَلَيْسَ أَحَدٌ مِنْكُمْ يُطَالِبُنِي بِمَظْلَمَةٍ فِي دَمٍ وَلَا مَالٍ

SUNAN ABU DAWOOD 3451 [1]

Extra Reading

1. http://www.iefpedia.com/english/wp-content/uploads/2009/10/Price-Control-in-an-Islamic-Economy.pdf

2. https://www.numl.edu.pk/journals/subjects/156102656513-AL-BASEERA%207%20(Vol.4%20-%20Issue.%201)%20JUN-2015.pdf

References

  1. SUNAN ABU DAWOOD 3451, Book 24, Hadith 36 (In-book reference), Book 23, Hadith 3444 (English Reference)