BUYING AND SELLING |
Earning more than 10% profit
Question: Is it permissible for a merchant to earn more than 10% profit on (the sale of his) goods?
Response: How much the merchant earns is not legislated for in the Sharee'ah, however, it is not permissible for a Muslim to deceive those who buy from him, such that he sells at a price unknown (different from the going rate) in the market. It has (however) been legislated that the Muslim should not be excessive in his profits, rather he should be easy-going if he sells and if he buys, as the Prophet (sal-Allaahu `alayhe wa sallam) has encouraged (an) easy-going (approach) in dealings (with one another).
And with Allaah lies all success and may Allaah send prayers and salutations upon our Prophet (sal-Allaahu `alayhe wa sallam) and his family and his companions.
The Permanent Committee for Islaamic Research and Fataawa, comprising -
Head: Shaykh 'Abdul 'Azeez ibn Abdullaah ibn Baaz;
Member: Shaykh 'Abdullaah Ibn Qu'ood
Fataawa al-Lajnah ad-Daa.imah lil-Buhooth al-'Ilmiyyah wal-Iftaa., - Volume 13, Page 92, Question 4 of Fatwa No.7339