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
Defending Jerusalem: A Sacred Duty for Muslims Worldwide
The Tragedy of Al-Aqsa Mosque: Its Significance and Muslims’ Duty to Protect It
Rights & Duties of the Wife and the Husband
Istikhara Prayer: Rules & Signs of Response
How to Introduce Islam to Non-Muslims
Religious Human Rights & the Qur’an
Innovations on the Last Wednesday of Safar
The Five Daily Prayers: Any Mention in the Qur’an?
The Concept of Luck in Islam
Sleeping after Fajr and `Asr Prayers
Top Reading