Ethics and Enforcement: Classical Islamic Principles on Market Regulation and Consumer Protection

Abstract

This article explores the Islamic jurisprudential foundations for state regulation in economic matters, specifically focusing on price control (taḥdīd al-asʿār), hoarding (iḥtikār), and adulteration (ghishsh). While modern economic systems often rely on secular legislative tools to manage markets, classical Islamic scholars provided detailed guidance on the ethical and legal dimensions of market intervention centuries earlier. Drawing on authoritative sources such as al-Durr al-Mukhtār, Fatāwā ʿĀlamgīriyyah, and Radd al-Muḥtār, this study highlights how the Shariah outlines a just and balanced framework that empowers the state to regulate markets in the public interest.The research demonstrates that Islam permits government intervention not as coercion but as a moral duty to protect the rights of consumers and ensure market integrity. Through detailed examination of classical juristic texts and relevant Qur’anic injunctions and Ḥadīth, the study shows that acts like hoarding essential goods to inflate prices, or concealing product defects through adulteration, are ethically condemned and legally punishable in Islamic law. The article further analyzes how the principles laid out by scholars such as al-Ḥaṣkafī and Ibn ʿĀbidīn remain relevant today in confronting challenges like artificial inflation and food fraud.Ultimately, this paper suggests that reviving Islamic economic ethics can help shape policy solutions in Muslim societies facing contemporary market injustices, providing a faith-based alternative to neoliberal or exploitative capitalist models