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What is the difference, and what is ok & what is not?

  1. Borrowing without interest (al-estelaf)

  2. Borrowing with interest (like Loans from persons or from banks)

  3. Al-Reba

  4. Al-Rahn (to arhan something for a period of time) Pledge (Exodus 22:26)

  5. Pawn shops

  6. Lending (Exodus 22:25): Do not be like a moneylender!

It is important to place these questions in context so that the answers correspond to the spirit of the meaning and not only to the letter. God is teaching us to be generous in giving, thoughtful to the poor, kind and merciful to others, and responsible with our assets. He is also warning us not to abuse power that is all too often associated with money.

The concept and practice of banks acquiring interest is clear from Exodus 22:25-26 in the Old Testament. The New Testament also illustrates how one acquiring interests from banks is generally approved: Matthew 18:21-35, 25:14-30; Luke 19:11-17. However, God does not want us to behave as cold-hearted banking institutions nor to be motivated by money or driven by mounting financial wealth. There are godly ways to lend and there are godly ways to borrow.

   

If you borrow, you must also be diligent to keep your word and return what you have borrowed according to your promise. Actually, borrowing can sometimes be accompanied with a "promissory note," a slightly less formal agreement but which still holds expectations for reimbursement. If you lend, do it with mercy. If you do not need it, do not require interest. Be fair and compassionate. If the borrower fails to repay you, be merciful and forgiving.

Pawn shops can be tricky; so generally, I do not advise that one resorts to having business transactions with these shops. Some items may have been stolen and sold to pawn shops. The pawn shop employees specifically do not ask any questions but offer low prices for the items. If the person selling the merchandise to the pawn shop does not return by the agreed upon set time, the pawn shop is then at liberty keep and resell the items to others. There are many temptations to be unscrupulous in these transactions.

The safe guidelines for borrowing, lending, and giving with a generous heart to others, especially family, friends, or the church community can be summed up in these words: 

 

"If there is among you a poor man of your brethren, within any of the gates in your land which the LORD your God is giving you, you shall not harden your heart nor shut your hand from your poor brother, but you shall open your hand wide to him and willingly lend him sufficient for his need, whatever he needs. Beware lest there be a wicked thought in your heart, saying, 'The seventh year, the year of release, is at hand,' and your eye be evil against your poor brother and you give him nothing, and he cry out to the LORD against you, and it become sin among you. You shall surely give to him, and your heart should not be grieved when you give to him, because for this thing the LORD your God will bless you in all your works and in all to which you put your hand. For the poor will never cease from the land; therefore I command you, saying, 'You shall open your hand wide to your brother, to your poor and your needy, in your land.'" (Deuteronomy 15:7-11).

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