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Buying for cheaper and selling for higher

Fatwaa ID: 2024

Question:
السَّلاَمُ عَلَيْكُمْ وَرَحْمَةُ اللهِ وَبَرَكَاتُهُ
Respected Mufti someone has inquired the following:

If someone buys one thing for let’s say 5 dollars and sells the same thing on another place for liek 10 or 15 dollars would that be haram ?

Jazakallah khair

Answer:
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

The above is permissible. You may purchase something for a lower price and then sell it for profit at a higher price. It goes without saying that the first transaction must be valid and complete. You must assume possession of the item prior to selling it.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
https://askthemufti.us/

06/21/1445 AH – 01/04/2024 CE | AML1-8692

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين

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