>Marshal and I were interviewed and photographed earlier this week for an article that appears in today's Phliadelphia Inquirer about Hebrew Free Loan societies:
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http://www.philly.com/inquirer/world_us/20090312_Interest-free__steeped_in_tradition.html>
>Tamar
Hi Tamar
Is this akin to the muslim ban on usury?
At the moment interest rates are at an historically record low over here (0.5%) so to lend interest-free when that's in force wouldn't be too bad. But I've often wondered how financial institutions can afford to lend int.-free. I mean, if rates were, say, 15% pa, and you lent $1,000 for one year, who'd make up the $150 you'd lost on the principle?
Terry
BTW, can you lend me £2,400 to clear my overdraft and I'll get it back to you when I can? :-|
- Whoever said that women are the weaker sex never tried to wrest the bedclothes off one in the middle of the night
- Worry is the interest you pay, in advance, for a loan that you may never need to take out.
