Interest is the money someone either owes when borrowing or is paid when lending money. When borrowing money, the amount borrowed which is known as the principal, and the interest the lender charges for loaning the money, must be repaid.
What's the Bible’s stand on interest on loan?
Like the Qu'ran, there are some Bible verses that kick against taking of interest on loans especially loans given to the poor. Let's take a look at some of them.
Leviticus 25:35-37 instruct the people of God to lend to the poor and strangers without charging interest. "And if thy brother grow poor, and he be fallen into decay beside thee, then thou shalt relieve him, [be he] stranger or sojourner, that he may live beside thee. Thou shalt take no usury nor increase of him; and thou shalt fear thy God; that thy brother may live beside thee. Thy money shalt thou not give him upon usury, nor lend him thy victuals for increase."
Also in Exodus 22:25-27, God specifically commanded that when we lend money to the needy, we should collect interest. "If you lend money to my people—to any poor person among you—never act like a moneylender. Charge no interest. If you take any of your neighbor’s clothes as collateral, give it back to him by sunset. It may be the only clothes he has to cover his body. What else will he sleep in? When he cries out to me, I will listen because I am compassionate."
Furthermore Deuteronomy 23:19-20 forbids charging of interest on loans given to family members and relatives." Don’t charge interest to your relatives, whether for money, food, or for anything that has been loaned at interest. You may charge interest to a foreigner, but don’t charge interest to your relatives, so the Lord your God may bless you in everything you undertake in the land that you are about to enter and possess."
Content created and supplied by: Timtrendz (via Opera News )