Friday, 23 July 2010 13:18

Tas'ir (Price Control) in Islamic Law

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The market (suq or bazar) has a distinctive place in the history of Islamic civilization. Makkah and Madinah were major trade centers at the time of the advent of Islam, and the prophet was himself an active market  participant and reformer. There were famous markets - 'Ukkaz, Majannah, and Dhhu al Majaz - in pre-Islamic Arabia that commonly held fairs during the pilgrimage season. This practice was continued after the appearance of Islam, for when the new Muslims felt that it might be sinful for them to trade in such places (al Zubayli 1984), the following verse was revealed: "There is no sin if you seek the bounty of your Lord (during the pilgrimage)" (Qur'an 2:198)......... Download the full article in pdf attachment (below)

Mohammad Hashim Kamali. Tas'ir (Price Control) in Islamic Law, The American Journal of Islamic Social Sciences, 11, vol 1.

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