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Interest with Non-Jews: Difference between revisions
From Halachipedia
→Jewish Money Deposited with Non-Jew Used for Jewish Loan
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#If a Jew deposits money with a non-Jew it is permitted for another Jew to borrow from that non-Jew with interest as long as the non-Jew took responsibility to the first Jew like a borrower.<ref>The Tosefta b”m 5:8 states that if a Jew deposited money with a non-Jew if the non-Jew took responsibility for it then he can lend it to another Jew with interest. Although the Baal Hatrumot 1:46:2:6 quotes someone who held we don’t follow the Tosefta, in 7:1 he writes that we do follow the Tosefta. Also, the Rosh b”m 5:56 and Tur and Shulchan Aruch Y.D. 168:21 codify it. Bet Yosef 168:21 isn’t certain what is the definition of the amount of responsibility that the non-Jew must accept in order to permit this. Does it mean that the non-Jew has responsibility like a watchman or does he need to take responsibility like a borrower who even if it is lost is obligated? He quotes the Baal Hatrumot assumed it was the latter. Shach 168:68 and Taz 168:31 agree.</ref> | #If a Jew deposits money with a non-Jew it is permitted for another Jew to borrow from that non-Jew with interest as long as the non-Jew took responsibility to the first Jew like a borrower.<ref>The Tosefta b”m 5:8 states that if a Jew deposited money with a non-Jew if the non-Jew took responsibility for it then he can lend it to another Jew with interest. Although the Baal Hatrumot 1:46:2:6 quotes someone who held we don’t follow the Tosefta, in 7:1 he writes that we do follow the Tosefta. Also, the Rosh b”m 5:56 and Tur and Shulchan Aruch Y.D. 168:21 codify it. Bet Yosef 168:21 isn’t certain what is the definition of the amount of responsibility that the non-Jew must accept in order to permit this. Does it mean that the non-Jew has responsibility like a watchman or does he need to take responsibility like a borrower who even if it is lost is obligated? He quotes the Baal Hatrumot assumed it was the latter. Shach 168:68 and Taz 168:31 agree.</ref> | ||
#However, if the Jew deposited money with a non-Jew and the non-Jew isn't personally responsible for the funds like a borrower, it is forbidden for that money to be lent to Jews with interest. For example, if a non-Jew is a manager or court appointed trustee of the money of a Jew he may not lend that money out to Jews with interest.<ref>Shulchan Aruch Y.D. 168:21, Taz 168:31, Shach 168:68</ref> | #However, if the Jew deposited money with a non-Jew and the non-Jew isn't personally responsible for the funds like a borrower, it is forbidden for that money to be lent to Jews with interest. For example, if a non-Jew is a manager or court appointed trustee<ref>Laws of Ribbis p. 310</ref> of the money of a Jew he may not lend that money out to Jews with interest.<ref>Shulchan Aruch Y.D. 168:21, Taz 168:31, Shach 168:68</ref> | ||
===Non-Jewish Money Deposited with Non-Jew Used for Jewish Loan=== | ===Non-Jewish Money Deposited with Non-Jew Used for Jewish Loan=== | ||
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#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: | #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 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> A Jew can be a loan broker for a non-Jew to lend out his money with interest.<ref>Laws of Ribbis p. 245 and 310</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 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> | ##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> | ||
