L - 6 Interest & Loans

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Interest & Loans

Parshat Mishpatim

Exodus 21.1 - 24.18

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We offer this study in the loving memory of Stephen may he rest in peace.  May his memory be for good. May he be elevated in the heavens. May we dedicate our lives to good deeds, giving charity and loving others in his memory...

Exodus 22.24-26

 אִם־כֶּסֶף ׀ תַּלְוֶה אֶת־עַמִּי אֶת־הֶעָנִי עִמָּךְ לֹא־תִהְיֶה לוֹ כְּנֹשֶׁה לֹא־תְשִׂימוּן עָלָיו נֶשֶׁךְ: 

If you lend anything from Aleph to Tav of money to My people, anything from Aleph to Tav to the poor, miserable, lowly, helpless with you, do not act like a creditor, do not put upon him interest. 

Years ago while serving in the U S Navy I observed quick loans. $5,00 for $7.00 or $10.00 for $12.00 or $20.00 for $25.00... Think of it? $5.00 for $7.00 is 40% - $10.00 for $12.00 is 20% - $20.00 for $25.00 is 25%.  These type of loans were normally for just a few days until payday. Ha Torah does not permit nehshek interest between Jews. In the military I would find friends who would loan to a friend for 'free'. We did not charge interest or pay interest. 

We have a responsibility to not charge interest to a fellow Jew. We have a responsibility to not act like a creditor. What does the Torah Mean when Instructing us to not act like a creditor?  We must be warm and open to the borrower when we meet. We should be friendly. We should avoid any reference to money or debts.

Granting a non interest loan is one of the highest form of charity because this act preserves the self-respect of the borrower while allowing time to repair and rebuild his financial stability. Rabbi Menachem Davis, The Shottenstein Edition Interlinear Chumash Shemos / Exodus, {Brooklyn, New York: Mesorah Publications, Ltd. First Edition 1st impression 2007}, p 218

Dear Ones may we be conscientious thoughtful and careful, with our with our lending and our actions. 

Please remember to pick up acopy of my two new books.

Would You Like To Be Jewish?

WouldYou Like To Be Jewish 2?

Go to bnti.us/books.html


Blessings, Love and Peace,

Dr. Akiva Gamliel and Rebbetzin Revi Belk

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This page contains a single entry by B'nai Noach Torah Institute, LLC Blog published on February 4, 2013 7:32 PM.

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