"Torah law only prohibits interest-bearing loans between two Jewish parties; loans with interest to non-Jewish borrowers are permitted."
The term "ribbis" is similar to the muslim word "riba", maybe they have the same etymological root. Contrary to ribbis, which ist open for interest against non-jews, riba is obligatory regardless muslim or non-muslim.
Just think about the distorted competition conditions in credit markets, the unequal business conditions etc.
That's Maimonides's Exception, which he based on Deuteronomy 23:20: "To a foreigner, you may lend at interest, but to your brother, you shall not lend at interest." More can be read about that in David Graeber's Debt: The First 10,000 Years.
That etymological similarity I did NOT know about! You're right, the Arabic word for usury is Riba al-Nasi’ah when I look it up. There's no way they're not connected. That's fascinating!
Do you know this:
https://www.kfikosher.org/what-is-ribbis
"Torah law only prohibits interest-bearing loans between two Jewish parties; loans with interest to non-Jewish borrowers are permitted."
The term "ribbis" is similar to the muslim word "riba", maybe they have the same etymological root. Contrary to ribbis, which ist open for interest against non-jews, riba is obligatory regardless muslim or non-muslim.
Just think about the distorted competition conditions in credit markets, the unequal business conditions etc.
Maybe this is a good subject to investigate...
That's Maimonides's Exception, which he based on Deuteronomy 23:20: "To a foreigner, you may lend at interest, but to your brother, you shall not lend at interest." More can be read about that in David Graeber's Debt: The First 10,000 Years.
That etymological similarity I did NOT know about! You're right, the Arabic word for usury is Riba al-Nasi’ah when I look it up. There's no way they're not connected. That's fascinating!
Thanks for the comment, Renée!
I have heard it said that Augustine had a good time until he was 32, and then made sure no one could ever have a good time again.
😂😂😂 Priceless! Thanks for the comment, Jason