Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Consumer protection in Islam  Join our daily free Newsletter

MENAFN - Arab News - 06/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Protecting consumers from malpractices of traders and commercial organizations is an important responsibility of any state. qur'an and hadith laid down the basic structure of consumer protection some 1400 years ago which are as valid today as they were during the golden age of prophet (peace be upon him) and the rightly guided caliphs. qur'an categorically denounces all unfair means in surah an-nisa: 'o you who believe! eat not up your property among yourselves in vanities: but let there be amongst you traffic and trade by mutual good will." (qur'an 4:29)

surah mutaffifin prohibits all kinds of mischiefs by traders including misrepresentation adulteration and fraudulent products collectively called as 'tatfeef': 'woe to those that deal in fraud; those who when they take a measure from people take in full. but when they have to give by measure or weight to them give less than due." (qur'an 83: 1-3)

while passing by a seller allah's messenger once came upon a heap of grain and when he put his hand inside it he felt some dampness. he asked the owner why is this dampness? the owner replied rain had fallen on it o allah's messenger. the prophet (peace be upon him) said; why you did not put the damp part on top of the heap so that people might see it then he said; whoever cheats is not from us (muslims). sellers have the responsibility to disclose any defect or shortcoming in the merchandize enabling the customer to make an informed decision and should not twist the facts to misguide or confuse the buyer.

in the contemporary shopping markets and malls traders have very rigid returns exchange and refund policies some of them allow only a few days to return and some do not refund even though the items are in good conditions. as part of good consumer practices islam asks traders to give the customer right to return the goods. allah's messenger said whoever accepts back what he had sold to a muslim allah will forgive his faults. (abudawood)

with regard to correct weight and measurement the glorious qur'an says: 'so establish weight with justice and fall not short in the balance." (qur'an 55: 9)

people of madyan were subjected to allah's retribution and were destroyed by thunderbolts and fire from the sky as they used to cheat people in different ways and did not listen to allah's messenger shoaib who warned them not to manipulate the scale.

when traders commit widespread exploitation of consumers through different ways of deceit depriving poor buyers of their hard earned money it is state's responsibility to save the society by implementing effective legislation for consumer's protection.

hoarding is another corrupt practice which is used to artificially inflate the prices whereas islam tells that prices should be determined purely by demand and supply function. allah's messenger said none withholds goods till the price rises but a sinner (muslim). once prices rose to a higher level in madinah and people came to prophet (peace be upon him) saying; allah's messenger prices have risen high fix them for us. allah's messenger replied 'allah is the one who fixes prices who withholds gives lavishly and provides. and i hope that when i meet allah none will have any claim on me for injustice regarding blood or property." (al-bukhari) this hadith indicates that arbitrary fixing of prices is prohibited because it may cause loss to businessmen on one side and on the other it creates a made-up famine. however state has the prerogatives to regulate prices in exceptional cases.

prophet (peace be upon him) said: 'a city dweller should not sell the merchandise of a villager (muslim)."

the rationale behind this hadith is that the city dweller might withhold it until prices escalate whereas the villager will try to sell it as soon as possible. though due to growing distance between cities where the produce is consumed and the farms where it is harvested it has become necessary to have storage houses and middle men in the cities. but other measures should be taken to control hoarding and maintain prices at reasonable level.

malpractices in the property market are also rampant where speculative buying and selling drives prices higher ultimately the market crashes. the 2008 bubble in the uae real estate market and its subsequent crash led to large-scale losses to retail investors and consumers. financial markets are another area where influential traders manipulate prices of stocks to their benefit and small retail investors generally happen to be the ultimate losers. there is a need for market regulators to implement strict rules and penalties for violators for the safety of small investors. pensioners were the biggest losers in the 2007 financial market crash in the us and europe.

loans and debts are norms of trade which islam fully supports however loan should never become a tool for exploitation of debtor and that is why interest of all sorts and manifest are prohibited. in addition qur'an calls for giving enough time to debtor to repay his loan in case of difficulty. allah says in surah baqara 'if there is one in misery then (the creditor should allow) deferment till (his) ease and that you forgo it as alms is much better for you if you really know." (qur'an 2:280)

allah's messenger said a person would be called on the day of resurrection and he would not have any good deeds except that he had instructed his servant to show leniency to those who were in financial difficulty. allah the exalted would say i am more entitled to this attribute so he will forgive all his sins (muslim). debtor should also endeavor to repay his obligation timely and sufficiently.

once a man came to the prophet (peace be upon him) and very rudely demanded the camel he had loaned to the prophet (peace be upon him). the companions being very displeased wanted to stop him. the prophet (peace be upon him) said to the companions; he is a creditor and he has the right to demand. the prophet (peace be upon him) said; give him a camel of same age. the companions found a camel which was of senior age. the prophet (peace be upon him) said; give it to him as the best among you is the one who discharge his debt in the best manner. (al bukhari & muslim)

while selling the sacrificial animals during eidul adha traders use a number of unfair tricks to make animals look healthier and weigh heavier than they really are. for example animals are given special feeds medication and injections that swell their body. 'the messenger of allah forbade the practice of 'najsh" and leaving the animals unmilked with the purpose of accumulation of milk to deceive the buyer (muslim)."

to protect the transacting parties from conflicts qur'an calls for writing down the transaction done on credit or future obligation. 'o you believe when you transact a debt payable at a specified time put it in writing and let a scribe write it between you with fairness." (qur'an 2:282)

lastly the messenger of allah said 'the trustworthy truthful merchant is associated with the prophets the upright and the martyrs on the day of resurrection (tirmidhi). however if the intentions in business transactions are not worthy and the lawful and forbidden are not differentiated then another hadith says 'the merchant will be raised on the day of resurrection as fujjar (that is corrupt transgressors disobedient sinful) except the merchants who fear and are pious and truthful." (tirmidhi)


 






  MENA News Headlines
 Aug 21 2014 - Al Ghalbi International Engineering and Contractingcelebrates 15 years of service in oil and gas sectorMuscat Daily
(MENAFN - Muscat Daily) Al Ghalbi Engineering & Contracting one of the local companies that operate at the concession areas celebrated 15 years of excellent services in the oil and gas ...

 Aug 21 2014 - Ebola virus disease West Africaupdate 8 August 2014 E-mail PrintMENAFN Press
(MENAFN Press) GENEVA Switzerland August 8 2014/African Press Organization (APO)/ -- Epidemiology and surveillance Between 5 and 6 August 2014 a total of 68 new cases of Ebola virus disease ...

 Aug 21 2014 - Nina Duong Haute Couture Announces Relocation From Toronto to Oakville OntarioExtravagant Wedding Gowns For Exceptional BridesMENAFN Press
(MENAFN Press) Nina Duong collections are as breathtaking as they are luxurious. All gowns are hand-sewn using the most exquisite fabrics especially fine silks from around the world.OAKVILLE ...

 Aug 21 2014 - Asry signs USD8.6m desalination plant contractMENAFN
(MENAFN) Asry, the leading ship and rig repair yard in the Gulf, agreed a build-operate-transfer (BOT) contract for the completion and upgrading of a reverse osmosis seawater desalination plant, Gulf ...

 Aug 21 2014 - Aerobics, Bollywood styleMuscat Daily
(MENAFN - Muscat Daily) At 58 John Graham barely knew a thing or two about dance. If asked he'd confess that he was highly 'uncoordinated and wouldn't be able to match steps with the rhythm'. But ...

 Aug 21 2014 - Instant Outfit IdeasMuscat Daily
(MENAFN - Muscat Daily) From creatively curated to surprising mash-ups here are five outfit ideas that will never fail you! Neons with Neutrals Create a balance with warm neutrals and bright ...

 Aug 21 2014 - Gamers Corner Nothing Else Like ThisMuscat Daily
(MENAFN - Muscat Daily) Let's face it Google's Play Store has never been recognised for its collection of horror games. Sure there are games like Dead Space and Eyes but these games are either ...

 Aug 21 2014 - Making Room For JunkMuscat Daily
(MENAFN - Muscat Daily) Most artists will tell you of the muse that stirs their body of work. Homemakers Haripriya Ganesula and Vaishnavi Pai are no exception. Just that their inspiration is not ...

 Aug 21 2014 - Game Changing Accessories Summer EditionMuscat Daily
(MENAFN - Muscat Daily) Here are three fashion accessories that will keep you at the top of your game! Heels - Pick any kind that you're comfortable in. if you're not a stiletto girl wedges ...

 Aug 21 2014 - Musandam-Oman Sail breaks world recordMuscat Daily
(MENAFN - Muscat Daily) Musandam-Oman Sail set a world record for sailing around Britain and Ireland on Thursday when it shaved 16 minutes off the previous record to clinch the top honours in the ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help