Interest and transaction balance
peace,
What is the Rabbi’s opinion on loans from the bank these days (and even for business purposes)? Ostensibly, the interest is the bank’s share of the profits, but in practice, the borrower is required to come to terms even if the business fails.
thanks.
I can’t say for sure. It’s clear that the transaction permit from a bank is a scam. On the other hand, the prohibition of interest itself in the bank is also not clear in my opinion (I wrote about it on the site), so there is reason to trust the scams.
In Rabbi Wind's transaction permit (he has a book on interest https://bhribit.com/ he also has a website there and is also available by phone and he explains at length in a thorough and clear manner) they do a better trick. The borrower gives the bank a share of his house and for the use of that share he pays the bank the "interest".
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