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Jewish bank

שו”תCategory: HalachaJewish bank
asked 2 years ago

Hello Rabbi,
 
There is currently an initiative to establish a Jewish bank. In short, it is a bank that will not lend at interest for non-business needs, but only without interest after checking the ability to repay. Loans for business needs, when the bank can be seen as a partner, will be given according to a business permit while strictly adhering to its terms. I am attaching a link to a slightly more detailed explanation. Do you think the hardship is worth the loss? That is: Is the halakhic situation in banks today unsatisfactory, so that there is an obligation/commandment to move to this bank, if and when it is established?
 
https://www.bky.org.il/bank


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מיכי Staff answered 2 years ago
It’s not harmful, of course. But in my opinion there are more important problems. In general, in my opinion, a deposit in a bank is not a loan but a deposit, so the question of interest on the plus there is not very dramatic. On the minus side, it’s more like a loan. Beyond the fact that it’s a limited liability company, etc.

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