Tuesday, April 7, 2009

Muslims are not allowed to become commodity traders

Sahih Muslim:

Book 010, Number 3640:
Ibn Abbas (Allah be pleased with them) reported Allah's Messenger (may peace be upon him) as saying: He who buys foodgrain should not sell it until he has taken possession of it.

1) Why does someone need to take possession of a foodgrain before he can resell it?
2) Did Mohammad purposely try to impede commerce?
3) Do Muslims think the S&P index to be haram?
4) Is the S&P index anti-Moslem where many commodity traders sell foodgrains without actual possession?
5) Do Muslims take the words of Prohphet Mohammad's (may peace be unto him) words literally in this case?
a) How about his words concerning business advice? http://muslimhadith.blogspot.com/2008/05/when-you-bargain-say-no-cheating.html

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