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Ribbis when loaning dollars in Israel

Question:

The shul in which I am a member is in process of building a permanent structure to replace its current caravan and is seeking funds for deposit in order to help them proceed while waiting for donations to come in.
Although we are in Israel, I have some dollars set aside which I don't need right now and the shul is willing to accept them on condition to pay back the same sum within a few days of when it is requested. Can this be a problem of ribbis in the event that the exchange rate is higher at the time that the loan will be repaid? Is there any issue in that the shul will also need to pay exchange fees both in order to use the money as shekels and in order to pay me back in dollars when the time comes?
Somebody suggested that even if there is a ribbis problem this is mitigated by the fact that the shul is also going to eventually have a simcha hall for rent as part of the new building which makes the loan into an iska. Is this true?

Thank you

 

Answer:

Hello,

The fact that the shul will eventually have income, won’t help you unless you make a heter iska with them. However, you don’t have to come on to a heter iska. What you are doing is called lending seah b’seah (lit. an amount of produce for the same amount in return). One of the heterim to give a loan seah bseah, is if the shul has come dollars, in their possession, ( not in the bank but cash). If they do, then the loan is permitted. There are many gemachs in Eretz Yisroel that lend dollars, and if the person taking the loan has even 1dollar in their home, they are allowed to take the loan. Additionally, even if they don’t have actual dollars in their possession, you can give them a dollar, as a temporary present, and after that they can give you back that dollar. This way they are still eligible to use this heter, and the loan is permitted.

The fact that they will incur a cost to exchange the dollars to shekels, and from shekels to dollars, is not your concern, and that is not ribbis, rather a cost that they will eventually have, if they take this loan.

Best wishes

Sources:

Y:D 175-4

 

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