What is the ruling on price fixing?
Machine translationRead the Arabic original
The questioner : All right, another question.
The Shaykh : The latter, yes.
The questioner : Is forced price fixing permissible?
The Shaykh : It is not part of the system of Islam to impose prices on the Muslims, because of the hadith you know, when they said to him: "Set prices for us." He said:.
The questioner: Yes.
The Shaykh : So making price fixing a system is contrary to the Islamic system. However, there is absolutely no objection, there is absolutely no objection for the Muslim ruler to set prices for essential foodstuffs in emergency circumstances, taking into account the public interest. But to adopt that as a rule, following the way of the Europeans, this is not permissible in Islam, first because it contradicts the aforementioned text.
The questioner: Yes.
The Shaykh : And secondly, because it is imitating the disbelievers.
The questioner : All right, does evading it mean that a person is liable for it?
The Shaykh : Evading the price fixing.
The questioner : Yes, meaning not adhering to it.
The Shaykh : As we said regarding what is similar to this issue, if there is a consequence that affects the religion and its people, then there is no objection to it. And peace be upon you.
The student : And upon you be peace...
The questioner : ... .
The Shaykh : The latter, yes.
The questioner : Is forced price fixing permissible?
The Shaykh : It is not part of the system of Islam to impose prices on the Muslims, because of the hadith you know, when they said to him: "Set prices for us." He said:
The One who sets prices is Allah
المسعِّر اللهThe questioner: Yes.
The Shaykh : So making price fixing a system is contrary to the Islamic system. However, there is absolutely no objection, there is absolutely no objection for the Muslim ruler to set prices for essential foodstuffs in emergency circumstances, taking into account the public interest. But to adopt that as a rule, following the way of the Europeans, this is not permissible in Islam, first because it contradicts the aforementioned text.
The questioner: Yes.
The Shaykh : And secondly, because it is imitating the disbelievers.
The questioner : All right, does evading it mean that a person is liable for it?
The Shaykh : Evading the price fixing.
The questioner : Yes, meaning not adhering to it.
The Shaykh : As we said regarding what is similar to this issue, if there is a consequence that affects the religion and its people, then there is no objection to it. And peace be upon you.
The student : And upon you be peace...
The questioner : ... .
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.