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Is heter iska transferable if loan note is sold?

Question:

I had a loan with a Jewish bank with a heter iska, and they sold my loan to another Jewish investor. Can I pay the interest to them or do I need to sign a new heter iska with them?

 

Answer:

Thank you for your question.

If the loan was actually given from the money of the bank, and the heter iska was done properly, then you do not have to make another heter iska. This is because the first bank sold the terms of the heter iska to the second bank, and it is now as if you have a heter iska with the second bank.

Best wishes

 

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