We intend to institute London’s first ‘free market’ inspired by traditional Muslim markets which had no pitch fees or rents...
The Messenger of Allah ﷺ established two key institutions upon arriving in Medina: the mosque and the market. We’re following his blessed example by creating London’s first free market right here at Shifa Mosque. This market will have no pitch fees or rents, allowing anyone to trade freely without the fear of having to make up their fees before making a profit.
The Islamic free market at Shifa Mosque will serve as a model for the future. We plan to transform the Shifa Mosque courtyard into a thriving marketplace, expanding to a dedicated location as we grow. Additionally, we aim to connect with similar markets across the UK, fostering a network of ethical, free trade.
Allah has permitted trade and He has forbidden usury
Qur'an 2:275
HELP US TRANSFORM THE COMMUNITY WITH A FREE MARKET:
A Traditional Solution to a Modern Problem
Recent research has shown that half of all new UK businesses fail within three years of opening.* It’s clear that small businesses need more support, and we see the traditional Islamic marketplace as an important part of the solution.
Supporting Local Entrepreneurs
Markets are the beating heart of local economies; When you spend money at a market, most of it stays within the community. Traders often source their products locally, supporting other local businesses in the process. This creates a ripple effect, where money circulates within the community, helping it grow and thrive.
More Than Just Commerce
As well as a place to trade and earn provision, markets are an invaluable place of social interaction, cohesion and exchange. Think of how much more likely you are to speak to people at a local market rather than a supermarket! At a local market you can speak to people who are passionate about their produce; grocers who know where their goods have been sourced and fishmongers who know when their fish was caught.
"UK market pitch fees are usually anything from £40 to £150 per day, which is a lot for me as a new small business owner. But a free market where I can trade without upfront costs is a such a blessing. It's the kind of support our community needs."
- Ibrahim, Shifa community member
*https://www.experianplc.com/newsroom/press-releases/2023/half-of-all-new-businesses-fail-within-three-years-of-opening