THE ROLE OF MONITORING IN CONTROLLING RATES AND INFLATION: IN THE PERSPECTIVES OF ISLAMIC TEACHINGS.

Abstract

The importance of monitoring is undeniable fact in any state. Not only surveillance has been given a great attention and focus in Islam, but the Prophet SAW also put it into action. More specifically he SAW monitored the markets by himself and made corrections where he SAW felt they needed to be made. The ability to prevent and avoid inflation and regulate rates is just one benefit of market monitoring. The quality of items will increase wherever market places are monitored. There won't be any adulteration, and the price will be reasonable and suitable. Inflation is currently low in nations with robust and active monitoring systems and high in nations with high levels of hoarding. As a result, the Islamic teachings in this area are crucial. In this research the same teaching will be present along with its application with the contemprorary time.