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The monopoly is haram

11:05 / 06.09.2019 2397 Reading mode + -

One of the things that are forbidden in trading is monopoly.

Ma'mar (رَضِيَ اللهُ عَنْهُ) narrated:

"The Prophet (ﷺ) said: " Whoever does monopoly he is inaccurate."

Muslim, Abu Dovud and Termizi.

"Ikhtikar" in the dictionary means "hold". In Sharia keeping the product intentionally from being sold to increase the price of what is been bough is called "Ikhtikar".

The monopolist will suffer greatly in this world and in the next world.

In short, a Muslim believer should not use the various frauds in order to gain wealth, and should not draw close to the artificial increase in the market price. This is haram and a grave sin. The market defines the price. People trade with their own free will.

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