Understanding The Prophet's Life
From Issue: 991 [Read full issue]
Profiteering
While freedom of trade and competition in the marketplace is guaranteed by Islam, it severely condemns hoarding in order to make a high profit or withholding the commodity from the market so that it becomes scarce. Hoarding and manipulating the prices at the expense of public interests are very strongly denounced in Islam. Hoarders seeking speculative gains cause an artificial crisis in the economy and thus affect the whole society. Those who accumulate wealth at the cost of others have a parasitical, cruel nature that exploits people.
Concerning hoarders, the Prophet said: "Those withholding goods until the price rises are sinners." (Muslim.) In another Hadith he said, "Whoever stocks a good essential for people for forty days is far from God, and God 's mercy is far from him." (Ahmad.)
Compiled From:
"Cleanliness In Islam" - Remzi Kuscular