“If I have a product and I buy it at a cheap price and the price of the product has gone up, and I have quantities at the old price, is it permissible to sell the product at the new price?” A question was received by the Egyptian Dar al-Ifta, during a live broadcast conducted by the house on its official page on the social networking site “Facebook”, and was answered by Dr. Muhammad Abd al-Sami, Amin al-Fatwa, at the Egyptian Dar al-Ifta.
In his answer to the question, Abdel-Sami’ said: “It is not permissible to sell the product at the new price because you did not buy it at the new price, so it is fair to sell it at half the profit for the new price, meaning if you bought a product at 20 pounds and you sold it at 25 pounds, and the new product you would buy for 25 pounds and sell it.” At 30 pounds, it is fair to sell the old product for either 25 pounds or 27.5 pounds.”
And the Secretary of Fatwa at the Egyptian Dar al-Iftaa continued: “Some say that if he sold the product at the old price, he would not be able to buy the product at the new price, but we tell them that you bought it at the old price. Either you sell it at its basic price, and you will have the reward from God, or you earn half of the new profit, and you will have earned and at the same time you have not increased the price of the people over it.”
In a related context confirmed Egyptian Dar Al Ifta Earlier, merchants who take advantage of people’s need and monopolize goods and sell them at exaggerated prices are sinful in Islam; Because this exploitation results in harming people and restricting them, and this leads to harming them financially and morally, and the Holy Prophet, may God bless him and his family and grant them peace, forbade harm.
The house clarified that the original sale is permissible and permissible. This is due to the Almighty’s saying: “And God has permitted trade and forbidden usury.” [البقرة: 275]Except for what the Lawgiver has forbidden of some practices that may harm the interests of the followers. Among those practices is “monopoly”, which is the imprisonment of everything that harms the public; This is by buying goods and locking them up, so that they become less among the people, so the seller raises their price in order to take advantage of their scarcity, and people suffer because of that harm, which the Lawgiver has forbidden and forbidden; The Prophet, may God’s prayers and peace be upon him and his family, said: “No one can monopolize but a sinner.” Narrated by Imam Ahmad in his “Musnad,” Muslim in his “Sahih,” and Abu Dawood and al-Tirmidhi – and his authenticity – and Ibn Majah and al-Darimi in “Sunanm,” and al-Bayhaqi in “Sunan al-Kubra.” “People of Faith”.