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

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)