❀ Buying Rice and Selling Later – The Islamic Ruling ❀
Question:
Is it permissible to buy rice and then sell it at a higher price after a few months, or would this be considered hoarding (ihtikar)?
Answer by Shaykh Abdul Wakeel Nasir ḥafiẓahullāh:
When items are available in abundance, purchasing rice or other commodities and selling them after a few months does not fall under the category of iḥtikār (hoarding).
In such a scenario, earning profit through this method is permissible, as it does not cause hardship or difficulty for others.
If goods are not available in the market and people are forced to buy them at higher prices due to artificial scarcity, then this act constitutes hoarding and falls within the bounds of a crime in Islamic law.
As long as goods are available in sufficient quantity and people's needs are not adversely affected, there is no Shar‘i restriction on such a transaction.
Question:
Is it permissible to buy rice and then sell it at a higher price after a few months, or would this be considered hoarding (ihtikar)?
Answer by Shaykh Abdul Wakeel Nasir ḥafiẓahullāh:
◈ Availability of Goods:
When items are available in abundance, purchasing rice or other commodities and selling them after a few months does not fall under the category of iḥtikār (hoarding).
◈ Permissibility of Earning:
In such a scenario, earning profit through this method is permissible, as it does not cause hardship or difficulty for others.
◈ The Crime of Hoarding:
If goods are not available in the market and people are forced to buy them at higher prices due to artificial scarcity, then this act constitutes hoarding and falls within the bounds of a crime in Islamic law.
◈ Shar‘i Guidance:
As long as goods are available in sufficient quantity and people's needs are not adversely affected, there is no Shar‘i restriction on such a transaction.
