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14

A couple of answers that I've seen: Charging interest is something quite normal in the business world; there's nothing immoral about it per se. However, you wouldn't charge interest on a loan to your brother or sister, because you relate to them as family rather than as business associates. The Torah expects us to treat every Jew like a sibling (which, ...


10

The local currency is always considered to have a constant value. Any price changes are attributed to fluctuations in the value of the merchandise, and not to changes in the value of the currency. This is true even where economic conditions are clearly the reason for the price change (e.g., where the price of a foreign-made car increases due to ...


10

I once asked the Business Halacha Institute whether I can lend on LendingClub, and they said it is permitted, since you can assume the borrowers are non-Jews. I asked another rabbi, and he said you shouldn't lend to a large number of people at once since then it's likely that one of them is Jewish. Since approximately 98.3% of the USA is non-Jewish, this ...


7

This issue is discussed here. Summary: Magazine subscriptions to Jewish-owned publications are forbidden only where the discount is explicitly or obviously linked to the advance payment. In this case, the discount is usually linked to other factors, so most poskim permit it. A little research online shows that the primary reasons that magazine publishers ...


6

http://www.ou.org/ou/print_this/64160 The issue is that foreign currency is not called "currency" in another country because it is not commonly used there. There are two opinions of what is the law if a loan took place in one country, and expecting to be payed back in another country. According to the Nsivos Sholom (162:1), one could pay in either ...


6

As I understand it, One is legally allowed to make money from his money. Just like one can rent houses and cars, one can rent money. The only reason one cannot charge interest from a Jew is because all Jews are family, and one doesn't charge interest to family.


6

Rabbi Reisman in The Laws of Ribbis Chapter 12:16 note 28 Interest which has accrued prior to the sale may be paid. This is true even if provisions of the sale call for these payments to be made to the Jewish purchaser of the debt. [This is subject of dispute between Taz 168:12 and Shach in Nekudos HaKesef ibid. The opinion quoted here is that of ...


5

The answer, in short, is that it is allowed, and there's no problem of Ribbis. Basically, Ribbis only applies where the money somehow flows from the borrower back to the lender. It does not matter if there's a third-party involved: if that third-party is being sent by the borrower, Ribbis would still apply. In this case, however, the one paying the Ribbis ...


5

In The Laws of Ribbis (chapter 4, section D, paragraph 25, page 88), Rabbi Yisroel Reisman writes: It is important that both the borrower and lender keep accurate records of how much is owed. When records are not kept, there may be uncertainty regarding the balance which is owed. In this case, the borrower may pay the lender an amount of money which is ...


5

The Mishna (Bava Metzia 75b) lists the different people who violate Biblical prohibitions when a loan is given with interest: ואלו עוברין בלא תעשה המלוה והלוה והערב והעדים וחכמים אומרים אף הסופר These violate a negative commandment: the one who loans, the one who borrows, the guarantor, the witnesses, and the Sages say even the scribe who writes the ...


5

The Shach there quotes Rif, who says that once the money is spent, the deposit converts to a loan, and that is why "Shimon" is responsible for all losses. This is only logical: The difference between a deposit (pikadon) and a loan (halva'ah) is that with the former, one returns the item itself, whereas with the latter, one is responsible to repay the value ...


5

There is a principle when it comes to this form of Rabbinic ribbis called yesh lo. The idea is that if the seller (who is compared to the borrower) has the item in stock, and theoretically he can pass ownership of it to the buyer immediately, then it does not violate this Rabbinic enactment, even if time elapses and the price of the product increases. The ...


5

Rabbinical prohibitions of Ribbis do not apply where a charity's moneys are involved. Therefore,... someone who receives a free loan from a charity may subsequently choose to show his appreciation by making a donation to the charity. This is permitted even if the donation is clearly being offered in gratitude for the loan.[36] [36] Bris Yehudah ...


5

Ribis is not on an Item that you are going to to return the very same item itself, so essential Ribis is only on Loans of money or things of Monetary value, not of items where you return the actual item itself. To illustrate for example borrowing eggs(this is Monetary Value) and returning more eggs since there you are lending the value of the item not the ...


4

According to many poskim, a heter iska does not work in such situations. See The Laws of Ribbis, p.395. There are also many banks in America with some Jewish owners or investors, but that raises a separate issue of partially Jewish-owned corporations.


4

Definitely the library-book case is okay. (But of course CYLOR!) Ribis applies only to halvaos, loans of fungible things (like money), and not to sh'elos, loans of items where the very item borrowed must be returned (like library books). (I don't have a good citation for this rule, but it's a basic rule of ribis and is discussed by, e.g., Taz 161:1. The ...


4

I don't think it would be a problem. In general, when one puts money in a Gemach, he can withdraw it at a later time. So Reuven is not paying any ribbis, he's just lending the gemach some money which they can lend to others. It seems highly implausible to claim that one cannot lend money as a favor to someone who lent you money, (and definitely not when ...


4

From AskMoses.com: There is nothing wrong or unethical about lending with interest. It is a common practice which is done in all civilized law-abiding societies. Still, the Torah expects of us to treat all our fellow Jews as family--and when a family-member asks for a loan we don't charge interest. As the verse says (Deuteronomy 23:20), ...


4

The lender may not collect the interest. (Source: Yore Dea 161:11; Rabbi Yisroel Reisman, The Laws of Ribbis, 2:26.) If the borrower wishes to repay it, he may not. (Source: YD 160:4; TLOR 2:5.) If this is relevant to you, consult your rabbi, as the particular circumstances of your case may possibly yield a different ruling. However, it was also forbidden ...


4

When a loan is given and a time is set for the return of the loan, the lender may not demand the return of the loan before the set time has arrived (Choshen Mishpat 73, 2). However, if the borrower wishes to repay the loan before the time has arrived he may do so (Choshen Mishpat 74, 2). This is the general rule (albeit there are certain special ...


3

I'm the writer who wrote post about Ribbis cited here. I've since read the Artscroll book about Ribbis by Rabbi Reisman, and he says that Early-Bird discounts are usually considered Ribbis. Since it's d'rabbanan ribbis, there may be leniencies (e.g. for non-profits, corporations) but it's pretty complicated. If you are planning to do an early bird ...


3

According to Rabbis Yonah Reiss and Ezra Schwartz (and the latter was reviewing a class given by Rabbi Ben-Haim), heter iska can be used for non-business loans. The reason is that the borrower has other assets, which he has decided not to sell off in order to fund whatever he is using this money for. As such, the retained assets are the investment that is ...


2

Ribbis involves paying the lender money above and beyond the principal. In the case of a deposit, there would be no circumstance in which the guardian would be obligated to pay back more than the amount of money that was placed in his safekeeping and the issue of ribbis simply would not arise. The guardian's greater degree of obligation after using the ...


2

The Shulchan Aruch Hilchos Ribbis Yorah Deah Siman 161 Sif 11 states that a loan document that stipulates interest - regardless if the nature of the interest could be categorized as forbidden according to the Torah or a Rabbinical prohibition - can be used to collect the principle of the loan only and not the interest on the condition that it's obvious from ...


2

The Mitzva of lending a person money is based on the pasuk "Im Kesef Talveh Ess Ami" (You Shall Lend Money To My People) (Shemos 22:24) However the lender has a right to demand proper collateral for his loan to guarantee that it will be paid back in a timely manner. If the lender is not satisfied with the guarantees provided, he has no obligation to lend, ...


2

There is no Halva'ah here so there can't be any prohibition on interest. This is a case of Sh'eilah which one can certainly charge for (known as Sechirah).


1

A year and a half ago, someone apparently returned an item of mine, that had been slightly broken before the loan. Upon further inspection, it appeared that the returned item was a new replacement. This inspired me to ask Rabbi Leib Tropper several questions on the subject. He confirmed that: One is always allowed to replace a borrowed or guarded item with ...


1

If I remember the Ribbis book correctly, it is permissible. The point of the late fees is not to earn interest, it is to get you to pay your bills on time. There also wasn't a specific loan. It becomes more of an issue if people try to use late fees as a "ha'arama" to charge ribbis. But since that's not the case here, it should be OK.


1

This is precisely what the beis din would try to do lechatechilah- the Halachic term is p'sharah. It is the best outcome as it creates peace. (Shulchan Aruch C.M. 12:2; S'ma 6)



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