Editing Islamic economics (section)

===Interference===
Proponents such as M. A. Khan,{{sfn|Khan|1994|p=10}} Nomani and Rahnema also contend that the "Islamic economy" forbids or at least discourages market manipulation such as [[price fixing]], [[hoarding]] and [[bribery]]. Government intervention in the economy is tolerated under specific circumstances.<ref name =NomaniM1/>

Another author (Nima Mersadi Tabari) states that in Islam "everything is ''[[Halal]]'' (allowed) unless it has been declared ''[[Haram]]'' (forbidden)", consequently "the Islamic economic model is based on the freedom of trade and freedom of contract so far as the limits of Shari’ah allow".<ref name="tabari">{{cite journal|last1=Mersadi Tabari |first1=Nima |date=February 2012|title=The Sharia'h Dimension of the Persian Gulf's Hydrocarbon Resources |journal=International Energy Law Review |volume=2 |pages=61–68 |ssrn=1997131}} King's College London Law School Research Paper No. 2014-10.</ref>

Nomani and Rahnema say that Islam prohibits price fixing by a dominating handful of buyers or sellers. During the days of Muhammad, a small group of merchants met agricultural producers outside the city and bought the entire crop, thereby gaining a [[monopoly]] over the market. The produce was later sold at a higher price within the city. Muhammad condemned this practice since it caused injury both to the producers (who in the absence of numerous customers were forced to sell goods at a lower price) and the inhabitants.<ref name =NomaniM1/>

The above-mentioned reports are also used to justify the argument that the Islamic market is characterized by free information. Producers and consumers should not be denied information on demand and supply conditions. Producers are expected to inform consumers of the quality and quantity of goods they claim to sell. Some scholars hold that if an inexperienced buyer is swayed by the seller, the consumer may nullify the transaction upon realizing the seller's unfair treatment. The Qur'an also forbids discriminatory transactions.<ref name =NomaniM1/><ref>{{harvnb|Nomani|Rahnema|1994}} cite {{qref|55|9|b=y}}, {{qref|26|181-183|b=y}}, {{qref|11|84-85|b=y}}. They also point out that a chapter is devoted to such fraudulent practices: {{qref|83|1-3|b=y}}</ref>

Bribery is also forbidden in Islam and can therefore not be used to secure a deal or gain favor in a transaction, it was narrated that Muhammad cursed the one who offers the bribe, the one who receives it, and the one who arranges it.<ref>Reported by Ahmad and al-Hakim</ref>

Nomani and Rahnema say government interference in the market is justified in exceptional circumstances, such as the protection of public interest. Under normal circumstances, governmental non-interference should be upheld. When Muhammad was asked to set the price of goods in a market he responded, "I will not set such a precedent, let the people carry on with their activities and benefit mutually."<ref name =NomaniM1/>