Across the UK, frantic shoppers are emptying shelves amidst fears over the spread of the coronavirus disease. Panic buying has turned into a sweeping epidemic in many parts of the country. Several appeals by both the government and the supermarkets calling for consumers to shop responsibly have fallen on deaf ears. Furthermore, there have even been cases where members of the public (and traders) are amassing basic necessities to sell on at a higher price, leaving the more vulnerable within community empty handed.

Hand sanitising products have been selling for more than 5000% of their recommended retail price online, with bottles worth 49p selling for £24.99 as consumers react rapidly to coronavirus fears. Morrison’s £2 hand sanitiser is being sold for £29.99, at a whopping 1400% increase. Those listing Tesco’s own hand sanitisers are still making a 1100% profit although it is the lowest percentage increase out of them all.1 A Budgens store also took advantage of the corona virus pandemic by cashing in and selling toilet paper at a massively inflated price. The so-called ‘discounter’ is charging £4 for a pack of four Andrex Supreme Quilts toilet rolls, even though the printed price on the Andrex packaging read
£2.50 RRP.2
Over the counter drugs and medication have also had their fate upturned as a growing number of anxious buying flock to prepare themselves for the onset of the COVID 19 UK. The growing pressure on the wholesale drug suppliers have resulted in a domino effect of rising retail and consumer prices.
High street retailers and pharmacies confirmed that the cost of sourcing paracetamol, ibuprofen and aspirin had all risen sharply in recent weeks and in some cases, by as much as 30%.

What should the attitude of Muslim traders be during such times?
We must first understand that in Islam, it is encouraged to seek profits in trading. Islam does not encourage such wealth that sits idly for no reason. The prophet (pbuh) also informed those who oversee the wealth of the orphans that they should not let the wealth amass without purpose. Rather, they should invest it for the benefit of the orphans. He says: “Invest the wealth of the orphan. Do not leave it to be eaten by Sadaqah (i.e. zakat).”3

Is there, however, a limit to how much profit a person can make? Sheikh Qaradaghi says that there is not a single proof from the Quran or Sunnah that a “profit” must be or can be limited to a certain rate.4 Islam does not instruct us to make only 10% of profit or 20% or less than 5% etc. For this reason, the prophet (pbuh) never intervened with merchants in the marketplaces in order to negotiate the prices. In fact, there is an incident where people came to complain to the Prophet (pbuh) regarding the increase of the market prices of certain items. They asked the Prophet (pbuh) to intervene to negotiate the prices. However, he refused and said: “Allah is the one Who fixes prices, Who withholds, gives lavishly and provides, and I hope that when I meet Allah, none of you will have any claim on me for an injustice regarding blood or property.”5
There are also narrations describing incidents where the Sahaba would trade assets for a price that was much higher than their original price. An example of this is when the Prophet (pbuh) gave to Urwa (ra) a Dinar to buy him a sheep, and he bought two sheep for him, then he sold one of them for a Dinar, and brought a Dinar and a sheep to the Prophet (pbuh) The Messenger of Allah (pbuh) prayed for blessing for him.6
It also narrated by Bukhari in his Sahi that Zubair bin ‘Awam (ra) bought some land for one hundred and seventy thousand. And his son ‘Abdullah sold it for one million and six hundred thousand (nearly 9 times its original price!).

However, making profits should not come at the expense of society by causing deprivation. Such an action is injustice and in Islam, such an approach is not tolerated. Profiteering and monopoly7 are illegal. Speculative behaviours which take the form of withholding demanded goods while increasing inventories are prohibited by the Prophet (pbuh). There are sanctions for this unlawful practice. Such practises may lead to profits in this world but will surely lead to a greater loss in the Hereafter.

As an example, The Messenger of Allah (pbuh) said, “Whoever hoards food away from
the Muslims, Allah will afflict him with leprosy and poverty.”8 Another unlawful act defined precisely by Hadith is to buy the entire amount from a producer or importer before they even get to supply to the market in order to make huge profits. The Prophet (p.b.u.h.) reportedly said: “and do not go ahead to meet the caravan (for buying the goods) (but wait) till it reaches the market”.9
Mufti Taqi says: “that one of the reasons for the prohibition of such act is that the buyer is purposely trying to acquire a commodity which the people of the city or town are greatly in need of, and then he goes back to them to sell it at a much higher price.”10 Based on the above-mentioned Ahadith, Muslims traders must be careful in the way they are fixing the prices; attempting to acquire needed items as much as possible in order to resell them at an inflated price is not permissible. Hoarding commodities to
increase their prices before selling them is also not permissible.

Currently the Competition and Market Authority (CMA) wants to ensure that traders do not exploit the current situation to take advantage of people.11 Therefore, if you are aware that your local shops or retailers are raising their prices extortionately, then you must report them. The CMA will also assess whether or not to advise the Government on taking direct action to regulate prices. InshaAllah, I will write on the issue of government intervention in the markets and their role in price fixing from an Islamic perspective. However, I believe there is a need to also address the issue of the attitude and behaviour of Muslims buyers in our current crisis.

1 https://www.standard.co.uk/news/uk/uk-hand-sanitiser-more-than-recommended-retail-pricea4381216.html
2 https://www.dailymail.co.uk/news/article-8114433/Shoppers-blast-Budgens-selling-toilet-roll-4-
buy-2-50.html
3 Hadith narrated by Tabrani. Al Haythami in Maj’m’ Al Zawaid narrated from his teacher Al ‘Iraqi that
the chain of narration of the hadith is sound.
4 Buhuth fi Fiqhi Al Bunuki Al Islamiya

5 Hadith narrated by Tirmidhi in his Jami’
6 Hadith narrated by Bukhari in his Sahi
7 There are however some exceptions
8 Hadith narrated by Muslim in his Sahi
9 Hadith narrated by Bukhari in his Sahi
10 Fiqhul Buyu’
11 https://www.gov.uk/government/news/cma-statement-on-sales-and-pricing-practices-duringcoronavirus-outbreak

(Mufti) Billal Omarjee