Anonymous
Anonymous asked in Society & CultureReligion & Spirituality · 1 month ago

Is it true that charging interest for a loan is something Jesus said should not be done, it is morally wrong?

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  • 1 month ago

    Technically it would be immoral to not charge interest or too much interest. While the person receiving the loan gets a benefit, the person loaning the money is at a disadvantage of not having that money to invest/spend elsewhere. Add to this the person who borrows money because they were financially irresponsible to begin with and you are sort of enabling the same poor behavior until the person has no choice but to file for bankruptcy. This brings up an whole other case of immorality of providing credit to those who don't deserve credit and charging super high interest rates to cover the cost of delinquent accounts.

  • Paul
    Lv 7
    1 month ago

    He wasn't talking about loan companies or banks. He was talking about relationships  between individuals, brothers and sisters in the Lord. 

  • Anonymous
    1 month ago

    It is not wrong to charge interest.

    But if you are helping a spiritual brother or sister maybe you should consider not loaning anything you cannot afford to give away so you do not lose a friend.

  • 1 month ago

    The Bible as a whole forbids usury, yes.

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  • Saad M
    Lv 5
    1 month ago

    Islam forbids the practice of interest and allows the participatory system between capital and labor or land.

  • 1 month ago

    Jesus was referring to personal non-business loans among the brotherhood.

  • Anonymous
    1 month ago

    Lafawnduh: Catholic faith didn't allow it

    AND YET, THEY'VE BEEN JUST FINE with centuries of child rape and cover-ups.

    Stop pretending like that foul cult has some basis in morality.

  • 1 month ago

    Jesus was responding with God's law in view - which he always did.  Under the Mosaic Law, Israelites were not supposed to charge their fellow Israelites interest when they made them a loan due to their need. You were not supposed to profit from the financial reverses of your brother or sister.  Exodus 22:25; Leviticus 25:36, 37, and Deutronomy 23:19.  You could charge interest to foreign borrowers.  Jewish commentators understood this to mean that foreigners were dealing in business loans and thus, as merchants and such, could be expected to pay back the business loan with interest.

    So yes, it was morally wrong for Israelites to charge interest to a fellow Israelite who was borrowing in need.

    Hannah J Paul

  • rodcom
    Lv 6
    1 month ago

    Because Catholics did not allow interest, and they controlled Europe, monarchies of Europe had Court Jews to do all their banking for them, and they built up quite successful family banking businesses, which is why there are so many Jewish people in banking to this day.

    Muslims too, do not allow interest on loans.

  • 1 month ago

    Catholic faith didn't allow it, that's why there were so many Jewish bankers back in the day.

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