In general, our Shariah recognises free market economy principles. #

It acknowledges that price should not be manipulated and should be determined by the law of supply and demand.

A hadith narrated by Anas bin Malik (may Allah be pleased with him) mentioned that when prices were high in the Prophet’s (ﷺ) time, the people asked him to fix prices for them, but he replied: “Allah is the one Who fixes prices, 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.”

However, the government may intervene to fix/control the prices (including the selling price) for public interests.

For example, certain countries have capped the selling price of N95 masks to make them fairly traded and affordable to the public during the pandemic.

This is in line with the Shariah maxim: “The actions of an Imam (leader) is driven by the interest of the community.”