For donations Click Here

Paying back a loan in a different currency

Question:

I borrowed shekels in e"y. At the time of paying back the loan, I offered the lender to pay him in shekels or in pounds. Could there be any issues of ribbis if paying back in a different currency?

 

Answer:

Hello,

You can pay him back in a different currency as long as it is the same value as the shekels that you owe him. For example, you borrowed 1000 shekels, and you are paying it back half a year later. You may give him pounds equal 1000 on the day that it is paid.

Best wishes

 

Leave a comment

Your email address will not be published.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