The concept of lending money and charging interest has been a part of human society for centuries. However, the ethical and religious implications of this practice have been debated for just as long. One source of guidance that many people turn to for moral and ethical principles is the Bible. This article will explore what the Bible says about lending with interest, examining different verses and their interpretations to understand the complexities of this issue.
The Old Testament Perspective
The Old Testament contains several passages that address the practice of lending money and charging interest. One of the most well-known passages is found in Exodus 22:25: "If you lend money to any of my people among you who are poor, you must not act like a moneylender to them; you must not charge them interest." This verse clearly prohibits charging interest to fellow Israelites in need.
However, other passages in the Old Testament present a more nuanced view. Deuteronomy 23:19-20 states, "Do not charge interest to your brother, interest on money, interest on food, interest on anything that is lent. To a foreigner you may charge interest, but to your brother you must not charge interest, so that the Lord your God may bless you in all you undertake in the land you are entering to possess." This passage suggests that charging interest was permissible when lending to foreigners, but not to fellow Israelites.
Interpreting the Old Testament Passages
There are a few key points to consider when interpreting these Old Testament verses about lending with interest:
- The context: The Old Testament laws were designed for a specific time and culture. The Israelites were a community that valued helping each other, especially those in need. The prohibition against charging interest to fellow Israelites reflects this communal spirit.
- The nature of the interest: The verses don't address all forms of interest. Some scholars believe that the prohibition was focused on usurious rates of interest, which were designed to exploit the borrower.
- The principle of justice: The emphasis on justice and fairness is a central theme in the Old Testament. Prohibiting charging interest to fellow Israelites aimed to prevent economic exploitation and ensure a more just society.
The New Testament Perspective
The New Testament doesn't explicitly address the issue of lending with interest in the same way as the Old Testament. However, it does provide guidance on financial matters that can be applied to the issue of lending.
Luke 6:35 states, "But love your enemies, do good to them, and lend, hoping for nothing in return, and your reward will be great, and you will be sons of the Most High, for he is kind to the ungrateful and the evil." This verse encourages generosity and love, even towards those who may not deserve it.
Matthew 5:42 says, "Give to the one who asks of you, and do not turn away from the one who wants to borrow from you." This verse encourages kindness and helping those in need.
Interpreting the New Testament Passages
The New Testament passages on financial matters highlight the importance of compassion, generosity, and helping those in need. These principles can be applied to the issue of lending with interest.
- Love and compassion: The New Testament emphasizes love as the foundational principle for all actions. Charging high rates of interest could be seen as contradicting this principle if it exploits the borrower's vulnerability.
- Helping those in need: The Bible encourages helping those in need, regardless of their ability to repay. Charging interest may create barriers to accessing financial assistance, especially for those who are already struggling.
Modern Perspectives on Lending with Interest
The debate on lending with interest continues today. Different interpretations of the Bible have led to various perspectives on the practice:
- Prohibition of interest: Some individuals and religious groups believe that charging interest is always morally wrong, regardless of the context. They often cite Old Testament passages like Exodus 22:25 to support their stance.
- Limited permissibility: Others believe that charging interest is acceptable under certain conditions. They may argue that interest can be justified as compensation for the risk involved in lending or as a way to encourage responsible lending practices. They might rely on Old Testament passages like Deuteronomy 23:19-20, which allow charging interest to foreigners.
- Focus on ethical practices: Still others believe that the focus should be on ethical lending practices, ensuring that loans are affordable and accessible to all, regardless of their financial background. They emphasize the New Testament principles of love, compassion, and helping those in need.
Conclusion
The Bible doesn't provide a definitive answer on whether lending with interest is right or wrong. It offers guidance on principles of justice, fairness, compassion, and helping those in need. These principles can inform ethical decision-making when it comes to lending money and charging interest. Ultimately, the decision of whether to charge interest is a complex one that involves weighing various factors, including the borrower's needs, the risks involved, and personal values.
Understanding the diverse perspectives on lending with interest from the Bible is essential for navigating this complex issue. While the Bible doesn't offer a simple solution, it provides a framework for ethical reflection and responsible financial practices.
