Notes

Eenah transaction:
It means selling something for a price to be paid later, then buying it back for a reduced price to be paid right away.
If a seller sells a car for twenty thousand to be paid in a year's time, then I buy it back from him for eighteen thousand; this is haraam and is not permissible, because it is using a trick to sell the car in an illusionary transaction for twenty thousand, then I go back and buy it for eighteen thousand in cash, so he will have taken it from me for eighteen thousand but he will pay me for twenty thousand, and this is riba.

3. Hoarding of Food Stuff
The Arabic word for hoarding is “Ihtikar”. It means storing foodstuffs or withholding
them in expectation of rise in their prices. Sometimes, a handful of traders operating in
the market buy the entire quantity of an item, rice for example, and store it up with the
object of selling it later at the time of scarcity to draw maximum profit out of it and to
dictate the prices. The consumers are left with no choice but to purchase the article
concerned from the one who hoards, as he is the only one in the market who holds it.
Sometimes, a trader hobnobs with the suppliers who will only sell their merchandise to
him. As a result, he holds the entire stock of the essential items that other traders do not
possess. He is, therefore, in a position to dictate his terms in the market and sell them at
an exorbitantly high price to the needy people. This is an unjust practice and a clear case
of exploitation and deservedly condemned by Islam. The Prophet (P.B.U.H) is reported to
have condemned the hoarders when he said: