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Subject : Solving the Problem of Rising Prices

Fatwa Number : 664

Date : 27-04-2010

Classified : Current Issues

Fatwa Type : Search Fatawaa

Question :

Our Muslim nation is witnessing a global rise in prices; what are the reasons? What is the solution? And what is your advice to merchants?

The Answer :

All perfect praise be to Allah, The Lord of The Worlds, and may His peace and blessings be upon our Prophet Mohammad and upon all his family and companions. Some of the righteous predecessors were asked: "Prices of goods have risen?" They replied: "Bring them down by not buying them" i.e. leaving nonessentials renders people burden free, and decreasing the demand for a certain commodity leads to cutting down its price, as indicated by supply and demand theory. We advise merchants to fear Allah and facilitate for the nation of Mohammad. And Allah knows best.



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