Question:

I run a business outfit that gives loan on interest (10% monthly) to people, mostly non-Jews. A Jewish
brother who knows that I run that outfit needed a loan, he did not come to me to ask for the loan, instead he went to my manager probably because he had collected money from me personally on several occasions in the past and never paid back! He also brought his relation who is a non-Jew and got some huge sums, because he was involved, I never charged any interest. My manager after doing a risk assessment, decided to give him the loan. He paid interest on the loan for two months, and stopped paying. He now started a campaign of calumny against me that I gave money to a Jew(him) on interest. Please I want to know if I have gone against any halakhic standards.

Answer:

The Torah commands us to give interest free loans to fellow Jews-an act of kindness of the highest degree.The exact sum he borrowed  has to be repaid, but not more, unless a heter iska was signed..

Sources:

Shemos 22:24, Nachlas Shivah 40, Y:D 167:1

Share The Knowledge

Not what you're looking for? Browse other questions tagged Interest on loans or ask your own question.

Leave a Reply

Your email address will not be published. Required fields are marked *