From my understanding, banks in Israel still issue loans at an interest whether it be for commercial businesses or new home owners. However, I was also told that they have a process in Israel where the loans jump over the halachic obligation not to issue an interest loan to another Jew. The reasoning I was given is that the accrued interest are treated like service fees and (I cannot remember how this conclusion was met) that the only way to remove these fees is to have some 1000 Jews appear before a court. Obviously, I do not remember the logic and rationalization, so I was hoping that Mi Yodeya can help me figure out how this works.
protected by Community♦ Oct 26 at 19:43
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