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Interest with Non-Jews: Difference between revisions
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→Non-Jewish Money Deposited with Non-Jew Used for Jewish Loan
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===Non-Jewish Money Deposited with Non-Jew Used for Jewish Loan=== | ===Non-Jewish Money Deposited with Non-Jew Used for Jewish Loan=== | ||
# | #If a non-Jew deposits money with a Jew to watch over and then instructs him to lend out that money to a Jew with interest it is permitted to do so, as long as the Jewish middleman did not take responsibility for the money as a loan. However, if he did accept responsibility as a loan he may not take any interest from the other Jew. Nonetheless, it is generally forbidden to do so since it is suspicious (''[[Marit Ayin/Suspicious actions|marit ayin]]'') and appears like taking interest from another Jew.<ref>The Tosefta b”m 5:8 states that if a non-Jew deposited money with a Jew he can lend it to another Jew with interest if the first Jew doesn’t have responsibility for the loan. The Bet Yosef 168:22 quotes the Baal Hatrumot 7:1 who explains that if the Jew has responsibility for the loan if it isn’t paid up that is a problem, however, if he merely accepts responsibility to pay while it is in his domain that is permissible since if something happens he can pay and there was no loan at all. Shach 168:69 and Taz 168:33 agree. Nonetheless, even in the first case, the Tur 168:23 writes that there is a problem because people will suspect that the first Jew is lending his own money to another Jew with interest.</ref> | ||
#The issue of doing something that appears suspicious is avoided when it is well known that the Jew involved is an administrator for the non-Jew’s money and is merely lending the non-Jew’s money and not his own.<ref>Ran b”m 61b s.v. ani cited by Bet Yosef 168:23 writes that if a Jew is appointed a financial administrator over the non-Jew’s money he no longer has to be concerned with marit ayin since people won’t suspect him of lending his own money. Talmidei Harashba similarly holds that if it is the Jew’s profession to deal with the non-Jew’s money then there’s no suspicion. Baal Hatrumot 7:1 in fact only requires that the lender express to the borrower that it isn’t his own money. Rama 168:23 and Shach 168:71 accept the Ran and Talmidei Harashba, not the Baal Hatrumot.</ref> | #The issue of doing something that appears suspicious is avoided when it is well known that the Jew involved is an administrator for the non-Jew’s money and is merely lending the non-Jew’s money and not his own.<ref>Ran b”m 61b s.v. ani cited by Bet Yosef 168:23 writes that if a Jew is appointed a financial administrator over the non-Jew’s money he no longer has to be concerned with marit ayin since people won’t suspect him of lending his own money. Talmidei Harashba similarly holds that if it is the Jew’s profession to deal with the non-Jew’s money then there’s no suspicion. Baal Hatrumot 7:1 in fact only requires that the lender express to the borrower that it isn’t his own money. Rama 168:23 and Shach 168:71 accept the Ran and Talmidei Harashba, not the Baal Hatrumot.</ref> | ||
#Therefore, practically a Jew may be a money manager for a non-Jew to lend out his money to Jews with interest as long as ''marit ayin'' is avoided with any one of the following ways: | |||
##The money manager is a professional and it is known that this is his job. No one suspects that he's lending out his own money.<ref>Talmid Harashba cited by Bet Yosef, Rama Y.D. 168:23. Shach 168:72 explains that Shulchan Aruch Y.D. 168:24 agrees with this.</ref> | |||
##The money manager manages the non-Jew's entire estate. Since he deals with all financial deals of the non-Jew people would understand that the loan he brokered is for his non-Jewish client.<ref>Taz 168:34 in explaining Shulchan Aruch Y.D. 168:24, Bach as cited by Shach 168:172, Laws of Ribbis p. 307</ref> | |||
##The money manager can lend out the non-Jew's money in his presence.<ref>Chavot Daat 168:4 in explaining the Taz, Laws of Ribbis p. 307</ref> | |||
##Some ''poskim'' allow the money manager to lend out the non-Jew's money in his home or business, even though he's not present. In that situation people understand that he's lending out the non-Jew's money and not his own. Similarly, some allow lending out the non-Jew's money if it has his name on the check issued for the loan.<ref>Laws of Ribbis p. 307 quoting Mishnat Ribbit 17:n5. Laws of Ribbis questions this opinion. He reasons that even though it is clear at the time of the loan that it isn't a Jew lending his own money but other interactions between the two Jews could lead to marit ayin. </ref> | |||
#The Jewish money manager may accept responsibility for the safety of the funds while they are in his possession but may not accept responsibility for the funds after they are lent to the Jew.<ref>Baal Hatrumot cited by Bet Yosef 168:22 and Shach 168:69</ref> | |||
#The Jewish money manager may be a guarantor for the Jewish borrower as long as it is stipulated that the non-Jew must first try to collect from the borrower and only in the event that he is unable to can he collect from the guarantor.<ref>Shulchan Aruch Y.D. 168:22, Shach 168:69, Taz 168:33. Halacha Brurah (Biurim 168:22) notes that Bet Meir has another opinion that it is forbidden even to accept responsibility as a watchman, however, Halacha Brurah defends the position of Shach and Taz.</ref> | |||
===Non-Jew Hired by Jew to Lend His Money with Interest=== | ===Non-Jew Hired by Jew to Lend His Money with Interest=== | ||
