Islamic Trading

[Soulja Girl]

Is there a little book available about the do’s and don’ts of Islamic Trading? I mean something very basic. Like if I wanted to sell some stuff, what are the basic guidelines I have to follow? What is considered as “ripping off people” and what is considered as making a profit? Am I allowed to for example raise a price of a product if I know it is in demand, despite that it may not actually be of that value? Lots of people do that, and it seems... well, hokey but then you have on the other hand if you don’t raise your prices, your gna get sold out of the market so you have no choice but to raise the prices despite that its true value may be lower.

If I at the start of a business venture, price my items lower to attract customers, but later on raise the price, is that permissible?

:wa:

 

[Insaanah]

Is there a little book available about the do’s and don’ts of Islamic Trading? I mean something very basic. Like if I wanted to sell some stuff, what are the basic guidelines I have to follow? What is considered as “ripping off people” and what is considered as making a profit? Am I allowed to for example raise a price of a product if I know it is in demand, despite that it may not actually be of that value? Lots of people do that, and it seems... well, hokey but then you have on the other hand if you don’t raise your prices, your gna get sold out of the market so you have no choice but to raise the prices despite that its true value may be lower.

If I at the start of a business venture, price my items lower to attract customers, but later on raise the price, is that permissible?

:wa:

Sister,

Sorry this is probably not of much help, but I Googled Business Ethics Islamic Perspective, and these are a few of the results that came up. Not sure if they were what you were after or if they answer your questions.

http://www.renaissance.com.pk/Mayviewpoint2y5.htm
http://www.islamicperspective.net/Pictures/Essay%20File/a6s2s2.pdf

The first link above looked slightly better than the second one.

This is a book on Islamic Business Ethics, but it has to be paid for and ordered though
http://www.islamicity.com/bazar/action.lasso.asp?-db=Bazaar&-lay=Product&-format=detail.asp&-op=cn&Part_no=03006-3618&-find

 

[ardianto]

If I at the start of a business venture, price my items lower to attract customers, but later on raise the price, is that permissible?

That is permissible if you inform your customer this price is temporary price.
In example "Special offer, only US$ ....../piece, valid until (date)".