Price Control in an Islamic Economy
Senior Lecturer Department of Economics Usmanu Danfodiyo University Sokoto, Nigeria

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  1. Abstract
  2. References
  3. Bibliography

The subject of price control in an Islamic economy dated to early seventh century (AD). It was later critically addressed and developed by the Islamic jurists between eleventh and sixteenth centuries. The paper reviews this development using arguments advanced by four major schools of Islamic jurisprudence and other legal experts. It explores those circumstances under which price control becomes permissible and/or necessary in an Islamic economy. A critical appraisal of selective cases of price control in economic theory is made. The paper, then, condenses and codifies juristic positions on market prices to provide a theoretical framework for the study of price regulation in Islamic economics.

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Published in : Journal of King Abdul Aziz University.
Islamic Economics .
Volume No : 9 , Issue 1 , 1997 .
DOI : 10.4197/islec.9-1.2 .
Pages 29 -52
© 2008 King Abdulaziz University - Scientific Publishing Center