LEASE SECTION · 51 – SETTING PRICES (PRICE CONTROLS)
Abū Hurayrah, may Allah be pleased with him, related:
A man came to the Messenger of Allah, peace and blessings be upon him, and said, “O Messenger of Allah, fix prices (on goods).” The Messenger of Allah, peace and blessings be upon him, said, “(It is not fixing prices) but perhaps I pray that Allah may increase sustenance.” Then a man came to the Messenger of Allah, peace and blessings be upon him, and said, “O Messenger of Allah, fix prices.” The Messenger of Allah, peace and blessings be upon him, said, "Allah lowers them and He raises them. I desire to meet my Lord while no one has seen injustice from me."
Anas ibn Malik (may Allah be pleased with him) narrated:
The people said to the Messenger of Allah, ﷺ, "O Messenger of Allah, prices have increased for us. Set prices for our goods." The Prophet, ﷺ, replied:
“He who fixes prices, brings about scarcity and abundance, and provides sustenance is Allah. I hope that none of you will meet his Lord without having been wronged in blood or property.” [250]
COMMENTARY
The Messenger of Allah, ﷺ, informs us that fixing the price of a seller’s goods constitutes an injustice to him. For, the Companions would act according to the principles of supply and demand and did not consider opportunity as exploitation. Based on these hadiths, most scholars are agreed that fixing prices is unjust to the seller.
It is related from Imam Malik that if the seller considers opportunity as exploitation and seeks to benefit from the customer’s ignorance, then state officials or governors may fix prices. (Bezl-ul-Mechud, vol. 15, p. 122)
Abu Hurayrah, may Allah be pleased with him, narrated:
The Messenger of Allah, peace and blessings be upon him, visited a food vendor.
The Messenger of Allah, peace and blessings be upon him, asked the vendor, “How do you sell?”
The vendor informed the Messenger of Allah, peace and blessings be upon him, about his sales practices.
It was then revealed to the Messenger of Allah, peace and blessings be upon him, to put his hand into the food item. The Messenger of Allah, peace and blessings be upon him, then put his hand into the food item. And what did he see? It was wet. Upon this, the Messenger of Allah, peace and blessings be upon him, said: “The deceiver has no share in Islam.” [251]
According to a narration from Yahya ibn Ma'in, he said:
– Sufyan ibn Uyayna disliked the interpretation of the preceding hadith, “He who deceives us is not like us.”
EXPLANATION
The meaning of the hadith is that one who deceives us is not upon our way, nor in the correct action according to our sunnah.
Sufyan ibn Uyayna disapproved of the interpretation which states, "One who deceives us is not among us [as Muslims]."
Deceit in trade is forbidden in every form and is contrary to the spirit of Islam.