Can anyone provide a copy of an actual heter iska agreement used for example by a bank in Israel for purposes of business loans or mortgages? I don't mean a haskama that such and such bank operates according to heter iska, but an actual heter iska agreement between two individuals or between a bank and a customer.

  • 2
    like Roman Numeral II? jlaw.com/Forms
    – rosends
    Commented Nov 12, 2014 at 14:00
  • @Danno I do believe that's what I'm looking for, but I'll have to actually look at it before I know. Commented Nov 12, 2014 at 14:02
  • @Danno I looked at the monthly one and that's what I'm looking for in principle, do you think that's what used by banks here in Israel? I don't think any bank here would sign an agreement like that... Commented Nov 12, 2014 at 14:09
  • I know precious little about banking in any country. That's why I didn't give this as an answer.
    – rosends
    Commented Nov 12, 2014 at 14:11
  • zomet.org.il/?CategoryID=264&ArticleID=258 is pretty relevant and a good reference for other sources about usury in the modern economies.
    – Double AA
    Commented Nov 12, 2014 at 17:03

2 Answers 2


there's one here The first page is the document, and the 2nd page are the halachos pertaining to hetter iska.


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While doing research for my question here, I found Beis Din of America's Iska agreement.

Here it is:


Agreement Concerning Interest on Loans


Jewish Religious Law strictly prohibits the paying or receiving of interest on loans made between Jews. However, when monies are advanced in the course of a business transaction, an agreement may be entered into, whereby the provider and receiver of these funds are considered equal partners. This partnership is based upon the stipulation that, upon request, every loss must be attested to by two trustworthy witnesses, and all profits verified by oath. All consequent profits and losses are then equally shared. However, in order to avoid these very stringent requirements, the provider of the funds, under this “Shtar Isko”, agrees to waive his share of the profits in lieu of receiving a fixed percentage of the money advanced. This percentage is then considered profit, rather than interest on a loan. This agreement becomes effective when the receiver of the funds executes a form as set below.

The Agreement

I, the undersigned, have received from ____________________________________, the sum of ____________ repayable over ______ years for the purpose of transacting business in connection with ____________________________________ in which profits and losses are to be equally shared. However, the said ____________________________________ has agreed that in lieu of such sharing of profits and losses, which would require substantiation of all losses by two trustworthy witnesses, and verification of all profits by oath, he shall accept my payment of an annual percentage of ______% of the said sum of ____________ and waive all other profits which may be earned from the advanced funds. I have received a token payment of $1.00 from the said ____________________________________ for my efforts in connection with this undertaking, and have signed herewith the receipt of the said $____________.

SIGNED THIS ______ day of __________________ at _______________________________.

Recipient’s Signature

  • many say that the language of "in lieu of " in the document invalidates the heter iska. Commented Aug 6, 2017 at 8:06

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