Islamic and Jewish Perspectives on Interest
Joel S. Newman
Wake Forest University - School of Law
Tax Notes, Vol. 89, No. 10, 2000
Wake Forest Univ. Legal Studies Paper No. 1090865
The payment and receipt of interest is a violation of both Islamic and Jewish law. Yet, one cannot function without borrowing money, and one must pay for the privilege of doing so. Both Islamic and Jewish law have derived ways to allow payments which substitute for interest, without violating their respective religious precepts. This piece analyzes how IRS should view such transactions.
Number of Pages in PDF File: 14
Keywords: Islam, Judaism, interest, taxation
JEL Classification: H20
Date posted: February 6, 2008
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