The Prohibition of Oppressing Muslims
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Question: One of the people who work in trade with us, when he notices that the price of a certain type of goods is starting to improve in the market, buys up all of that commodity in the market and controls its price by raising it significantly. What is the ruling on this practice, and is what he earns through this method lawful or forbidden?
Answer: There is no doubt that the one who oppresses Muslims in what they need from goods by buying it all up from the market, forcing people to buy it from him at a high price and controlling them, there is no doubt that this is not permissible. It is obligatory to take action against him and prevent him from doing so. If the matter is as the questioner described, then it is obligatory for the authorities to prevent him from doing so.
However, if these goods are luxuries and people do not need them, or if there is another market with other goods and people can find alternatives elsewhere without hardship, then this is not forbidden. But it is not befitting for a Muslim to oppress people and force them into difficulty.
Question: But if this commodity is a basic necessity for people, and such a person monopolizes it, what is the ruling on the money he earns through this method?
Answer: This is not the case of monopoly,The meaning of monopoly is: buying it up and storing it, waiting for the price to rise later, or buying it and selling it immediately but raising its price. We mentioned that this is not permissible, and that it is obligatory for the authorities to take action against him. If there are no other goods available and people need these, he is compelled to sell them as people sell them.
Question: So, is there a difference between this case and monopoly?
Answer: It is similar to monopoly in one aspect, but it is not monopoly in every respect.
Question: What is the reality of monopoly?
Answer: It is when one, for example, targets the essential needs of people for which there is no other source in the country, buys them up, stores them, and waits for the price to rise in the future.
This is forbidden, and warnings have been issued regarding it, as well as prohibitions against it.
Answer: There is no doubt that the one who oppresses Muslims in what they need from goods by buying it all up from the market, forcing people to buy it from him at a high price and controlling them, there is no doubt that this is not permissible. It is obligatory to take action against him and prevent him from doing so. If the matter is as the questioner described, then it is obligatory for the authorities to prevent him from doing so.
However, if these goods are luxuries and people do not need them, or if there is another market with other goods and people can find alternatives elsewhere without hardship, then this is not forbidden. But it is not befitting for a Muslim to oppress people and force them into difficulty.
Question: But if this commodity is a basic necessity for people, and such a person monopolizes it, what is the ruling on the money he earns through this method?
Answer: This is not the case of monopoly,The meaning of monopoly is: buying it up and storing it, waiting for the price to rise later, or buying it and selling it immediately but raising its price. We mentioned that this is not permissible, and that it is obligatory for the authorities to take action against him. If there are no other goods available and people need these, he is compelled to sell them as people sell them.
Question: So, is there a difference between this case and monopoly?
Answer: It is similar to monopoly in one aspect, but it is not monopoly in every respect.
Question: What is the reality of monopoly?
Answer: It is when one, for example, targets the essential needs of people for which there is no other source in the country, buys them up, stores them, and waits for the price to rise in the future.
This is forbidden, and warnings have been issued regarding it, as well as prohibitions against it.