Loans with Interest for a Transaction
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Question
Hello, I would like to ask, I am planning to purchase a property abroad for investment purposes. To invest, I need to take loans from several sources (banks, pension funds). All have a Heter Iska. 1. Is this completely permissible? 2. What should I be aware of? Thank you very much
Answer
Hello
A loan with a Heter Iska is permitted, especially when the money is indeed taken for an actual transaction.
It is advisable to personally sign a Heter Iska with the bank regarding this loan, rather than relying on the general text of the Heter that the bank has, in this way the Heter gains the status of a condition in this business.
Source
Shulchan Aruch, Yoreh De'ah, Siman 177, Se'if 2