The new fatwa from Diyanet: It is Allah who sets the prices

The Supreme Council of Religious Affairs Institution (Diyanet) shared the fatwa (Islamic religious law) it issued on the question “Is there a profit limit in trade” during the ongoing price increases. In said share, it was noted that the hadith “It is Allah who sets prices, gives narrowness and abundance” was pointed out – (hadith: Prophet muhammad’s sayings/deeds).

The Supreme Council for Religious Affairs, the highest decision-making and advisory body of the Ministry of Religious Affairs on religious issues, issues fatwas by answering questions asked by phone or over the Internet. On the other hand, the questions and fatwas selected on some topics are constantly published on the website according to the subject headings. If these fatwas are related to an issue on the country’s agenda, they are sometimes shared on the social media accounts of the board. During the process of discussing high price increases, a fatwa shared on July 20 from the board’s social media account drew attention.

According to a source (in media), the fatwa issued on the question “Is there a profit line in trade?” stated ”the Islamic religion did not impose a strict profit limit on trading contracts and it depended on market conditions”. However, a hadith included in the fatwa drew attention. The relevant part and hadith are as follows:

“Regarding this issue, the messenger of Allah said when he was asked to intervene in this situation when prices started to increase, ‘It is only Allah who sets prices, gives hardship and abundance, and provides for.”

SOURCE: halktv.com.tr/gundem/diyanetten-yeni-fetva-fiyatlari-tayin-eden-allahtir-685894h