Hoarding | Prohibition of hoarding in Islam

Hoarding

Hoarding means closing and storing the basic necessities of the common man, whether it is related to any food or anything else, whether it is to the detriment of human beings. So it can be food products or medicines or clothes or buildings etc. and similarly business and other occupations when people need. In the case of hoarding, there is no difference in the order that the goods purchased from another place must be stocked or purchased as a whole and then retained unless their value increases or someone else makes it himself.

The main reason for prohibiting hoarding is that whatever is closed and stored due to the need for goods will not be allowed to come under hoarding. Infacthoardings are related to the products and goods that people need in society. So if the stored thing is not among the things that people do not need, then it will not be classified as hoarding and in this case, it is optional to save something because this case, it is up to the owner to save or sell it.

Prohibition of hoarding in Islam

Islam is the religion of public welfare and absolute humanity. There is no corruption, no exploitation in this religion. No cheating, the heinous tendency to kill someone. In recent times, a kind of dishonest black market has infiltrated under the guise of trade and commerce. They create an artificial crisis in the market by hoarding daily necessities in the name of the business. They have multiple traps and huge syndicates for these immoral acts. The hoarding syndicate is a ploy to seize the wealth of the capitalists by crushing the poor and helpless.

One of the most dangerous forms of economic corruption today is the hoarding syndicate. Due to this syndicate the price of daily necessities increases in the market. There is wailing among the buyers. The purchasing power of the common man decreases. Extreme misery and despair come down in public life. Within it, trade and economic systems carry the seeds of destruction. Freedom of business and industry is violated. The doors of the workplace and the livelihood of the common man are closed. Islam prohibits all such economic misdeeds. All kinds of deception and greed behind the stock syndicate have been made illegal.

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The Almighty declares in the Qur'an, "Whoever wants to commit an unjust act of hoarding there (in Makkah), I will make him taste a painful punishment." (Surah Hajj, verse 25). In this verse, according to one interpretation, the business of hoarding has been referred to as apostate work. (Tafsir Ibn Kathir) The Prophet (peace and blessings of Allah be upon him) in several hadeeths has strongly warned against hoarding. He said, "No one can hoard except the sinner." (Muslim)

In another hadith, he says, "Whoever joins the stockpiling syndicate in Muslim society, Allah will inflict plague and poverty on him." (Ibn Majah, Ahmad) In another hadith, he says, Goes. '(Ahmad) According to Qur'an-Sunnah, a hoarding syndicate is a completely illegal and heinous crime. In the Hanafi Madhhab, it is equivalent to Makrooh Tahrimi or Haram.

In all other Madhhabs, hoarding is considered a haram business. From a social point of view, it is a very disgusting deception and inhumanity. The Prophet (peace and blessings of Allah be upon him) said, ‘Whoever deceives us is not one of us.’ (Muslim)

Caliph Omar (RA) used to suppress the tendency of hoarding with very strict hands.

According to Islamic law, he has the right to sell his products at any time. They are also allowed to store food for one year for their own use. If stocks do not affect the market price or cause any loss to the people or there is no demand for these things, then there is no prohibition on stocking.

In addition, business goods can be stored for up to 40 days due to business needs or difficulties. Similarly, the government or the concerned representatives can stockpile food items for the needs of the country and in the interest of the people. However, a hoarding will not be valid under any circumstances for the sake of making a profit by creating an artificial crisis. Rather, it will be considered a great sin and a serious criminal offense.

It is very important to control the stock syndicate in order to control the volatile market situation and rising commodity prices in the current world. It is necessary to avoid deception in this difficult situation and to be motivated toward legitimate business in Islamic ideology. May Allah bless everyone?

Impact of Hoarding on society

i. If we look around society we can guess the fact that hoarding is practiced and found in different ways, economically, politically, and collectively it spreads in our society. And indeed it is something that is spreading evil in the country that Allah (SWT) has mentioned in His final revelation.

ii. The Prophet (peace and blessings of Allah be upon him) also warned the ummah against such acts and strictly forbade it because it is tantamount to spreading evil in society.

iii. Islamic think tanks and economists say that the practice of hoarding is against the economic rights of the people and therefore the resources are limited because in doing so we are also working against Allah and His Messenger (PBUH) and it is creating difficulties for the people and their rights. And taking people's money illegally and improperly. All of these things have been classified as wrong deeds which exploit Baraka in any deed.

iv. And the result in both these situations is always the same both man and society are victims of injustice and oppression which continues to increase if this practice continues.

v. People are deprived of their economic freedom because they cannot buy things in the market according to their needs and desires and what they have can be at high prices and do not meet their standards yet they are only forced to take them. Especially when that thing is their daily use.