تسعیر جبری کی اسلامی تاریخ کا تحقیقی جائزہ

Scrutinizing Coerced Price Regulation in Islamic History: An Investigative Perspective

  • Inam Ul Haq PhD Scholar, National University of Modern Languages, Islamabad
  • Shahabudin M. Phil Islamic Studies, Abdul Wali Khan University, Mardan
  • Anis ur Rehman Ph D Scholar, University of Karachi
Keywords: Taseer, hoarding, merchants, Coerced Price, Price Regulation, Islamic History

Abstract

Since ancient times, no person has been entirely self-sufficient. Everyone must engage in activities to earn money and provide for their family members and children. In books of jurisprudence, the term Rate (Taseer) has been utilized to instruct merchants to adhere to official rates. During the time of the Holy Prophet Muhammad (P.B.U.H), markets were allowed for fluctuations of the rate (Taseer) based on the principles of supply and demand, ensuring that transactions were conducted satisfactorily for both buyers and sellers. Even during the period of the Rashidun Caliphate, direct governmental intervention in setting official rates was avoided, although various measures were implemented to regulate economic activities. Hazrat Umar (R.A.) implemented policies to discourage hoarding so that Inflation could be controlled, while Hazrat Usman (R.A.) employed a range of strategies to stabilize prices without resorting to fixed rates and tried to end Inflation through other means. Various facilities were provided to encourage merchants from outside the city to his area for trading. Traders were encouraged to come to his area for trading, security for traders as well as for his goods and transport was assured and peace was assured for both citizen and traders. This article aims to delve into the literal, terminological, and historical interpretations of Taseer in the Islamic context, examining its significance and implications in detail.

Published
2024-02-20