"I have old items and their price has gone up. Am I selling them at the new price?"The Egyptian Dar Al Iftaa answers

Due to the appreciation of the dollar against the Egyptian pound over the past few days, the Egyptian Dar al-Iftaa was asked: “I have old goods and their price has risen … Will I sell them at the new price? ?” the house replies.

In detail, the question was asked during a Facebook live broadcast by the house: “If I have a product and I buy it at a low price, and the price of the product has increased, and I have a quantity at the old price, is it possible to sell goods at a new price?

Muhammad Abdel-Sami, a fatwa secretary at the Egyptian ifta house, replied: “It is not permissible to sell the product at the new price because you did not buy it at the new price, so it is fair to sell it at half the profit at the new price, that is, if you bought the product at the price 20 pounds and sold it for 25 pounds, and you would buy a new product for 25 pounds and sell it for 30 pounds, it is fair to sell the old product for either 25 pounds or 27.5 pounds.

Muhammad Abdel Sami added: “Some say that if he sold the item at the old price, he could not buy the item at the new price, but we tell them: you bought it at the old price. False, or you sell at the basic price, and you will receive a reward from God, or you will earn half of the new profit, and you have earned and at the same time have not raised the price of people.

The Egyptian Dar al-Ifta previously affirmed that “merchants who take advantage of the needs of the people, monopolize goods and sell them at inflated prices, are sinners under Sharia law due to the consequences of this exploitation, harming and restricting people, and this causes them physical and moral harm.

Source: The Seventh Day

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