Dr.Monzer Kahf, a prominent economist and counsellor states: “While I think that Shari`ah does not put any limit of the rate of profit, I agree with the stand that sometimes, certain circumstances create an abuse of this rule. Taking the cases of running an agency of umrah and hajj trips as an example, I think there is a lot of monopolistic practices in the matter of running Hajj and `Umrah trips that makes me feel that some serious consideration must be given to tame these practices. Whenever there is a monopolistic practice there is a doubt about revenues derived from them. I wouldn’t like to invest in such practices but I cannot claim that it is haram to do that.”
Profits exceeding 100%: OK?
Did you like this content?
Recommended
Making up for Missed Fasting Days in Shawwal
Is Fasting Six Days of Shawwal Mandatory?
A Guide to Supporting Your Child’s Early Journey with Islam: Hijab, Prayer, and Fasting
Combining Intention in Shawwal Fasting
Lying between spouses
Falling in Love: Allowed in Islam?
Watching Pornography & Adultery
Role of Muslim Women
The Ruling of Wearing makeup
Masturbating in order to avoid zina (fornication)
Top Reading