Interest prohibition

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Prohibition of interest refers to the in the Old Testament of the Bible and the Koran pronounced ban , interest to demand. This prohibition also applied to Christianity for a long time , but was later weakened or completely lifted. The ban on interest in the Baha'i religion has been lifted entirely , with the principle of justice and proportion as a condition.

General

The fact that the lender may demand interest from the borrower at all is due to the economic consideration that the lender himself foregoes the use of his capital during the term of the loan and therefore cannot generate any profits or income from an alternative financial investment . From an economic point of view, the loan interest is therefore to be classified as an opportunity cost for a loss of use. In economics , the interest represents the price for the production factor capital . Money or capital are scarce goods , so they achieve a price. In business administration , taking interest is part of the basic principle of profitability .

These economic arguments have been overlooked or denied by the advocates of the interest ban. With them, the protection of debtors enjoyed priority. Because the interest prohibition is based on the consideration that exponential growth occurs, in particular through compound interest, which will drive the debtor into ruin. Legal maximum interest rates , usury , compound interest prohibitions and absolute interest prohibitions therefore served to protect debtors .

history

Interest as a price for the temporary transfer of material goods or capital can look back on a long tradition. Around 2400 BC , the Sumerians probably used the oldest term for interest (maš; German for  “calf, young goat” ). This concept of interest thus indicates wages in kind . The compound interest (mašmaš) also has its origin here. As a relief for the compound interest-related increase in debt , the Sumerians under their king En-metena made possible around 2402 BC. A debt relief . In Babylon the market interest rate was known as "şibat kârim". The Codex Hammurapi from the 18th century BC allowed interest, failure to pay could result in debt bondage . To prevent outgrowths, Hammurapi I. introduced a maximum interest rate, which was 33 ⅓% for barley and 20% for silver.

Plato and his student Aristotle advocated a ban on interest . Plato was of the opinion that the interest income harmed the state, for Aristotle the interest income was considered morally bad economic activity ( Chrematistik ). Aristotle felt the interest rate the overall economy as an illusion, because the money will not be increased by the interest, because the interest income of the creditor am the same interest expense of the debtor against.

Old and New Testament

In the New Testament there is no mention of a general and absolute ban on interest. Rather, Jesus Christ spoke quite freely of money and interest: "Then you should have brought my money to the changers, and if I had come I would have got mine back with interest" ( Mt 25:27  EU ). One man accused his servant, “Then why didn't you put my money in the bank? Then I could have withdrawn it with interest on my return ”( Lk 19.23  EU ). The ban on interest in the Old Testament, which probably only applies to those in need, was not obeyed in Elephantine and probably also in Palestine after the Mishnah and was circumvented in Talmudic law. The translation for Dtn 23.20  EU “You shall not grow rampant, neither with money nor with food” comes from the translation of the Bible ( Luther Bible ) created by Martin Luther between 1522 and 1542 at the time of the prohibition of interest , so that under “rampant” the interest self understood.

The Hebrew Bible ("Old Testament" or Tanakh ) only partially stipulates a prohibition on the taking of interest, and indeed in multiple variants.

The oldest text comes from the so-called federal book . Here is the requirement:

“If you lend money (to one of) my people, the poor among you, then do not be like a believer to him; you shall not impose interest on him "

- Ex 22.24  ELB

The usual research opinion sees a regulation here that was originally related to “impoverished relatives and neighbors”, but has now been expanded with the addition of “my people”.

Also the so-called holiness law , according to widespread research hypotheses a legal writing of the priestly script , formulates a prohibition of interest:

"And if your brother [d. i. a member of the People's Union] becomes impoverished and his hand waggles beside you, then you should support him like a [landless] stranger ( Hebrew ger) and sit-downs ( Hebrew toschab, d. H. a non-Jewish local resident) so he can live next to you. You should not take interest from him and you should fear your God, so that your brother may live next to you. You should not give him your money for interest ( Hebrew neshek, literally "Abbiss"), and you should not give your food for a surcharge ( Hebrew marbit) give."

- Lev 25.36 to 37  ELB

Biblical research sees an expansion of solidarity-based interest-free loans not only for relatives and clans, but also for the entire people of God, as well as “strangers” and “bidders”. In the Book of Leviticus , the prohibition of interest is also related to the rules for the sabbatical year and debt relief .

Such a reference not only to the family association, but to the entire people, is already presupposed in the Deuteronomic body of law:

“You shall not give your brother any interest ( Hebrew neshek) impose interest on money, interest on food, interest on any thing that is borrowed for interest. To the stranger ( Hebrew nochri, d. H. you may impose interest on a foreigner who is only temporarily in the country), but you must not impose interest on your brother, so that the Lord your God may bless you in all the business of your hand in the country you come to To take possession. "

- Dtn 23.20-21  ELB

While z. B. Max Weber in a statement in the special regulation for "foreigners" saw a distinction between "internal morality" and "external morality" and thus corresponded to anti-Jewish stereotypes, biblical research sees a distinction here between two types of credit , namely interest-free emergency credit and interest-bearing commercial credit with the intention of making a profit as they were "in fact a matter for foreigners in little Judah".

The prohibition of interest can be found not only in the Pentateuch , but also in the writings of the Old Testament prophets. The prophet Ezekiel counts this as one of those sins that a “righteous man” must refrain from, cf. Ez 18,5-17  ELB , Ez 22,12  EU .

The ketuvim also contain references to a ban on interest, for example in Ps 15.5  ELB or Spr 28.8  ELB .

First interest bans

The experience with interest has not always been positive, however, because its exponential growth - especially with compound interest - could exploit debtors and drive them to bankruptcy. With maximum interest rates, the governments tried to limit this interest rate risk for the debtor or to abolish it entirely by prohibiting interest. The Babylonian interest law already knew regular interest, default interest, interest barriers and interest prohibitions. The Jewish federal book forbade interest on loans to the poor between 1000 and 800 BC ( Ex 22.24  EU ). The Deuteronomy demands: "You should not take any interest from your fellow citizens, neither interest on money, nor interest on food, nor interest on anything that can be borrowed" ( Dtn 23.20  EU ). The Tanach understood “national comrades” only to mean Jews . From this it was concluded that Jews were allowed to lend loans to non-Jews . That clarifies Dtn 23.21  EU : "You can take interest from a foreigner ..."

As a rule, Roman law recognized an interest-free loan with the Mutuum, mostly as a courtesy to relatives or friends, where interest could only be charged through a special stipulation . The Romans used Latin “usura” or Latin “fenus” for the loan interest . It was initially a fee for renting a defensible property ( Latin res fungibilis ). The Twelve Tables Law of 451 BC BC limited the interest to one twelfth of the loan amount ( Latin fenus unciarum ), which therefore could not exceed 8.33%. Titus Manlius Imperiosus Torquatus halved 407 BC. The interest rate ( Latin semiunciarium fenus ). At the end of the Roman Republic around 27 BC. The maximum interest rate ( Latin usura ultra alterum tantum ) was 12%, Justinian I reduced it to 6% in 533 AD. Compound interest ( Latin usurae usurarum ) has been prohibited since Ulpian around 222 AD.

New Testament

The New Testament prohibition of interest can be found in Luke . He demanded "give a loan, but do not hope for any profits from it" ( Latin Mutuum date, nihil inde sperantes ; Lk 6.35  EU ). Based on this, John Chrysostom (* around 344, † 407) and Augustine of Hippo (354–430) demanded a complete waiver of interest. For clerics existed since the Council of Nicaea in 325 AD, an absolute prohibition of interest. A violation of this canonical prohibition of interest resulted in excommunication , expulsion from the congregation, denial of a church burial or refusal of absolution . Already Pope Leo the Great remarked after 440 that the interest gained from money is death for the soul ( Latin fenus pecuniae, funus est animae ). In his “General Admonition” ( Latin Admonitio generalis ) in March 789, Charlemagne declared the ecclesiastical interest ban a secular ban.

Christianity

With the rise of Christianity , the interest payment met with severe criticism from the church , because needy people in need should receive interest-free loans ( Lev 25,36–37  EU ). The actual starting point of the prohibition of interest is the commandment of Deuteronomy : “You should not take interest from your brother, neither for money, nor for food, nor for anything for which you can take interest” ( Deut. 23 : 20–21  EU ). "Usura" received the connotation for forbidden interest in the church language . The canon law declared interest income to be robbery ( Latin si quis usuram acceperit, rapinam facit, vita non vivit ).

In addition, a distinction was made between inadmissible Latin usura and admissible Latin interest . An interest rate agreement was also permissible for a loan if the lender lost an advantage ( Latin lucrum cessans ), suffered damage ( Latin damnum emergens ) or there was a risk of capital loss ( Latin periculum sortis ). A case of damnum emergence is e.g. B. agreeing to a penalty fee for late repayment of an interest-free, fixed-term loan. The Templars ( order of knights ) and other bankers cleverly circumvented the interest prohibition with a surcharge.

Doctrinal opinions

Before 863 the Patriarch Photios I considered the Christian prohibition of interest to be wrong and explicitly allowed interest on arrears , the Byzantine-Orthodox legal scholar Theodoros Balsamon let the interest ( Greek τόκος , “young”) count as “interest” after 1193, today still in English and French in common and also at times in German. The previous canonical interest prohibition was replaced by Pope Innocent III. renewed and tightened in 1215. Around 1268 Thomas Aquinas believed that interest was “simply from some person, ie. Ed.] Evil ”. Instead, the canonical prohibition of interest allowed the purchase of an annuity , which Hamburg city law first recognized in 1270 as being redeemable by repurchase . The purchase of interest, which Pope Martin V confirmed as legitimate in July 1425, was considered to bypass the ban on interest . Martin Luther commented on the interest problem in November 1519 with “Eyn Sermon vom Wucher”. "Lying or borrowing should be done freely, to [without] all essays and weighting [interest]". As early as 1532, the Reich Chamber of Commerce recognized that, in addition to a loan, the "accumulated interest owed to be paid".

Interest prohibitions in early and medieval Judaism

In the casuistic discussion of the Talmud , some of the cited passages of the Hebrew Bible are specified in more detail and the prohibition of interest is further tightened or expanded. Baba mezia 59b relates the norm from Ex 22:24 to landless strangers (Hebrew ger ). The distinction between Jewish and non-Jewish debtors does not apply (cf. Baba mezia 70b – 71a; Makkot 24a).

In medieval Europe, which was dominated by Christianity, a general interest ban had been in effect since the 12th century. Jews who were not directly subject to these prohibitions (Pope Alexander III expressly permitted them to engage in interest payments in 1179) were at times the only group in medieval Europe that was allowed to lend money commercially under canon law . Conversely, from the late Middle Ages onwards, Christian authorities imposed various prohibitions on them to practice handicrafts and the like (e.g. through the so-called guild compulsory ), and in many cases also forbade property. Therefore, the European Jews in particular were often active as money lenders . Since very few small businesses managed without credit , Jews, especially in economic crises, were viewed as " usurers " and insulted. In the anti-Judaism of the Middle Ages, the stereotype of the rich, greedy, deceitful Jew, the money Jew, developed . The vast majority of the Jewish population lived in poor conditions so that they did not have the means to act as moneylenders. But there were undoubtedly a few well-to-do Jews who - alongside the much more numerous Christian moneylenders - were active, which does not allow any reference to Jews or a generalization.

While the above-mentioned texts of the Old Testament were predominantly used to justify the prohibition of interest in Christian literature , there were occasional references among Jewish authorities that the strict Talmudic prohibition of interest in particular was to be regarded as temporarily inapplicable due to the reprisals suffered by Jews, for example Jakob ben Meir .

Jews did not need to obey the Christian rules of prohibiting interest and therefore developed into moneylenders in the High Middle Ages . The Torah allowed them to do business with interest ( Hebrew עניין) with members of other religions. The Reich Police Order of 1577 limited the maximum interest rate for lending money to Jews to 5%. The Jewish interpretation of the Torah by the Tannaim brought a substantial tightening of the biblical prohibition with interest, because it affected all types of credit transactions , the supplier credit , the forward purchase or property loan agreement .

Islam

The Islam .. Took over the Christian ban on interest and called after 622 AD this, click, not interest ( Arabic Riba ; "growth, proliferation") to take by re-taking the creditors in multiple amounts, which have borrowed it ( Koran , Sura 3: 130). Several suras deal with the prohibition of interest. In Sura 2: 275 Allah declares the contract of sale (Arabic bayʿ ) permissible ( halāl ) and the interest ( ribā ) forbidden ( harām ). According to Sura 2: 279, the borrower only has to return the principal to the lender. Sura 30:39 explains that what is bestowed with interest increases people's assets, but not with God. The Islamic interest ban has remained in Sharia law to this day. The Koran's prohibition of interest applies to the granting of credit ( ribā n-nasīʾa ), while the Sunna speaks out several times for the prohibition of interest in commercial transactions ( ribā l-fadl ).

Since Islam sees itself as a divine set of rules, the most important remedy of which is the fulfillment of the divine prescriptions, compliance with the prohibition of interest is a central component of the religion . As a result, all interest-bearing transactions are prohibited. In contrast, all returns based on trading or investing in a particular product are acceptable . So are approved trade financing , venture capital awards , rentals, leasing and commodities trading . The most common form of investment, however, is buying shares in private and public companies; because dividends do not count as interest because the shareholders have no legal entitlement to it and dividends represent an authorized profit .

In Islam there are a number of legal twists ( Hiyal ; Arabicحيلة / hīla ; pl.حيل / hiyal ) to circumvent Sharia law. Circumvents of this kind are often found in Islamic legal practice; they are one of the means of making financial activities seemingly Shari'a conform.

Loosening in Christianity

A relaxation of the interest prohibition occurred through the Reich decrees of 1500 (legitimation of the purchase of interest , prohibition of usurious interest ), 1548 (maximum interest rate for Christians and Jews 5%) and 1577 (de facto lifting of the interest prohibition of 1530), which according to their wording an interest of five Percent also allowed for the purchase of annuities, which the general public also referred to loans. Henry VIII temporarily legalized interest payments in England in 1552 after his break with the Pope; it was officially repealed in 1571; there was a maximum interest rate of ten percent. In 1638 the polymath Claudius Salmasius pleaded for the permissibility of interest. The Reich Chamber of Commerce recognized the loan interest as enforceable for the first time after the last Reich decision of 1654. In the Peace of Westphalia of 1648, loans with five percent interest were declared permissible. Subsequently, German jurisprudence considered the interest prohibition abolished under customary law . In 1698 the Dutch lawyer Gerhard Noodt spoke out against the interest ban. He justified this with the fact that the proceeds from loaned money actually belong to the owner, so that it is fair to compensate the owner with interest. Noodt considered the biblical prohibition of interest to be insignificant, since it was not a ius gentium , but only applied to one another, so that Christians were allowed to take interest. In 1745 Pope Benedict XIV spoke out against interest in the encyclical Vix pervenit addressed to the high clergy in Italy . In § 3, paragraph I it says:

"The sin, which is called usura and which has its actual seat and origin in the loan contract, is based on the fact that someone demands more from the loan than the other has received from him [...] Every profit that exceeds the loaned amount, is therefore illegal and usurious. "

At a corresponding passage in the New Testament, Luke says:

“And if you only do good to those who do good for you, what thanks can you expect for it? So do sinners. And if you only lend something to those who you hope to get it back from, what thanks do you want for it? The sinners also lend to sinners in the hope of getting it all back. But you should love your enemies and do good and lend, even where you cannot hope for anything in return. [...] "

- Lk 6.33-35  EU

In France , interest on loans was forbidden for exactly 1000 years until October 12, 1789, since then a maximum limit of 5% has applied.

The rigid prohibition of interest stood in the way as an obstacle to the development of modern forms of economy , led to a conflict-prone monopoly of lending money by Jews and to attempts by merchants to circumvent it. After the factual lifting of the interest prohibition there was the allowed interest ( Latin fenus ) and the usury ( Latin usura ) as a prohibited interest above the statutory maximum interest rate.

Within the Catholic Church , Pope Pius VIII's ban on interest was formally lifted in a letter dated August 18, 1830 to the Bishop of Rennes .

Legal issues

The statements of canon law on the prohibition of interest also apply directly to the legal system in secular states . It is here that legal norms such as laws provide for regulations on interest law.

Germany

In Germany, according to the legal scholar Jan Kropholler , "the principle of freedom of contract with regard to the amount of interest (...) is generally recognized", so that there is no interest. The BGB therefore knows a statutory interest rate , the base rate as a reference value , the default interest rate and the compound interest rate .

If interest for a debt is not agreed in a contract , interest of 4% per year is to be paid by law in accordance with Section 246 BGB. Although this provision does not justify an interest claim, it regulates the amount of interest. The interest debt resulting from the creditor's claim to interest is ancillary and depends on the main debt in its origin. The BGB knows the base interest rate ( § 247 Paragraph 1 BGB) for calculating the general default interest rate ( § 288 BGB) and for real estate loan agreements ( § 503 Paragraph 2 BGB). In addition to the usurious interest , which is null and void in accordance with Section 138 (2) of the German Civil Code, there is only the interest limit for compound interest in accordance with Section 248 of the German Civil Code, which is reserved for banks and current accounts among merchants ( Section 355 ) (1) of the German Commercial Code .

Of the former Christian interest prohibition, only the compound interest prohibition in § 248 BGB is anchored in today's German law . According to this, compound interest may only be agreed for credit interest on deposits at banks and for loan interest on mortgage loans from Pfandbrief banks .

International

In the legal source of international private law, interest today forms part of the statutory freedom of contract (freedom from interest). English law does not recognize a lex fori, either. The contracting parties are therefore free to demand or not grant interest when granting a loan or investing money . If a non-Islamic lender waives the calculation of loan interest, this is not legally objectionable. However, he is threatened with economic consequences, because a waiver of interest contradicts the company 's goal of profit maximization and can even result in losses if he has to bear refinancing costs himself and a lack of interest income prevents cost recovery . In addition, the lender lacks a risk measure and a risk premium with which the probability of default is discounted.

In the non-Islamic world there is statutory interest in the event that it is not contractually agreed (e.g. Germany , Austria , Switzerland , Italy or France ) or not ( common law ). As a result, the statutory interest rate applies even if interest is not contractually agreed. If interest is not contractually agreed in England, however, statutory interest is not available. English law professes to be free of interest, but has no objection to interest barriers or interest bans in other countries.

The Sharia has a statutory interest ban in the Islamic culture only where it is strictly and comprehensively applied. There, the interest ban is the main characteristic of the Islamic economic order . As long as Muslims in relationship communicate with each other, the prohibition of interest corresponds to the common law understanding of all the contractors. A conflict arises, however, when the Islamic interest ban meets the general interest allowance in the non-Islamic world. Interest agreements made contradict the prohibition of interest, represent an unjust enrichment and are therefore void . If the non-Islamic lender wants to demand interest from the Islamic borrower and enforce it in an enforceable manner, conflict of laws applies. As jurisdiction to English law provides ( English the courts of England to).

Interest ban today

The Islamic interest prohibition applies not only to business between Muslims, but also to business between Muslims and non-Muslims. This is why international credit transactions and interbank trading are particularly affected. For this reason, an Islamic banking system has developed within Islamic finance , which offers sharia-compliant arrangements for banking transactions . These include trade financing through a bank ( murabaha ) acting as a buyer , equity financing through a silent partnership ( mudaraba ), bonds ( sukuk ) or leasing ( idschara ). With these forms, the prohibited interest rate is replaced by a surcharge ( English add-on ) that corresponds exactly to the credit margin .

Since 2001, major Islamic companies from the Gulf region have covered their capital requirements for loans through banking consortia made up of Islamic banks from the Gulf region and major international banks . These loan agreements are based on the standard agreements of the Loan Market Association with the participation of international law firms . After IFRS prepare balance sheets of major international banks may these transactions after the accounting principle of substance over form ( English substance over form ; about IFRS 9, 10) won as interest-bearing loans.

See also

literature

Middle Ages and early modern times

  • John T. Noonan: The scholastic analysis of usury. Harvard University Press, Cambridge MA 1957.
  • Eric Kerridge: Usury, Interest and the Reformation. Ashgate, Aldershot et al. a. 2002, ISBN 0-7546-0688-0 ( St Andrews studies in Reformation History ).

Judaism

  • Klaus Werner: The Israelite ban on interest. Its foundations in Torah, Mishnah and Talmud. In: Johannes Heil , Bernd Wacker (Ed.): Shylock? Interest prohibition and money lending in Jewish and Christian tradition. Fink, Munich 1997, ISBN 3-7705-3160-4 , pp. 11-20.

Islam

Web links

Wiktionary: interest ban  - explanations of meanings, word origins, synonyms, translations
  • Norman Jones: Usury , EH.Net Encyclopedia 2008.

Individual evidence

  1. ↑ Helmut Wienert: Fundamentals of Economics . 2008, p. 77 f.
  2. ↑ Oliver Brand: The international law of interest in England. 2002, p. 11 f.
  3. ↑ Dirk Zetzsche : Principles of collective investment. 2015, p. 228
  4. ^ Plato, Nomoi 5, 742 CE
  5. ↑ Aristotle, Politics 1, 9 (1257a ff.)
  6. ^ Aristotle, Politics, 1-8 (1258b)
  7. ↑ Mishnah Pea l, lb.
  8. ↑ Klaus Beyer: The Aramaic Texts from the Dead Sea , Volume 2. 2004, p. 201
  9. ↑ Miroslav Varšo: Interest (usury) and its variations in the biblical law codices . In: Communio Viatorum 50/3, 2008, pp. 323–338.
    Mark E. Biddle: The biblical prohibition against usury . In: Interpretation. 65.2 (2011), pp. 117-127. ( e-Text ( Memento from November 5, 2013 in the Internet Archive ) at HighBeam Research .)
    Bernard J. Meislin / Morris L. Cohen, Backgrounds of the Biblical Law against Usury , in: Comparative Studies in Society and History 6/3, 1964, pp. 250-267 ( digitized from jstor ).
    Isac Leo Seeligmann, loan, guarantee and interest in law and thoughts of the Hebrew Bible , in: ders., Erhard Blum (ed.), Collected Studies on the Hebrew Bible , Mohr Siebeck, Tübingen 2004, pp. 319–348.
    Haim Hermann Cohn u. a .: Article Usury. In: Encyclopaedia Judaica . 2nd edition, Vol. 20, pp. 337-444 ( e-Text ( Memento from November 5, 2013 in the Internet Archive ) at HighBeam Research).
  10. ↑ See Rainer Kessler:  interest / interest prohibition. In: Michaela Bauks, Klaus Koenen, Stefan Alkier (eds.): The scientific biblical dictionary on the Internet (WiBiLex), Stuttgart 2006 ff., Section 2.1.1.
  11. ↑ See Rainer Kessler:  interest / interest prohibition. In: Michaela Bauks, Klaus Koenen, Stefan Alkier (eds.): The scientific biblical dictionary on the Internet (WiBiLex), Stuttgart 2006 ff., Section 2.1.2.
  12. ↑ See M. Leutzsch: The biblical interest prohibition. In: Rainer Kessler, E. Loos (Hrsg.): Property: Freedom and curse. Economic and Biblical Objections. Gütersloh 2000, pp. 107-144, here 125-127; Rainer Kessler:  Interest / interest prohibition. In: Michaela Bauks, Klaus Koenen, Stefan Alkier (eds.): The scientific Bibellexikon on the Internet (WiBiLex), Stuttgart 2006 ff., Section 2.1.3.
  13. ^ Rainer Kessler:  interest / interest prohibition. In: Michaela Bauks, Klaus Koenen, Stefan Alkier (eds.): The scientific Bibellexikon on the Internet (WiBiLex), Stuttgart 2006 ff., Section 2.1.3.
  14. ↑ Josef Kohler , Arthur Ungnad : Hammurabi's Law , Volume III. 1909, pp. 307, 324 f.
  15. ^ Peter Landau: interest . In: Concise Dictionary of German Legal History , Volume 5, 1996, Sp. 1709
  16. ↑ Julius Weiske (Ed.): Legal Lexicon for Jurists of all German States , 1861, p. 419
  17. ^ Herbert Frost, Manfred Baldus , Martin Heckel, Stefan Muckel : Selected writings on constitutional and church law . 2001, p. 274
  18. ^ Hans-Jürgen Becker: Interest prohibition . In: Concise Dictionary on German Legal History , Volume 5, 1996, Col. 1719 ff.
  19. ↑ Christian Braun: From Usury Prohibition to Interest Analysis (1150-1700). 1994, p. 36 ff.
  20. ^ Rolf Sprandel, Zins IV , in: Theologische Realenzyklopädie, XXXVI, 2004, Col. 681
  21. ^ Karl Friedrich Ferdinand Kniep: The debtor's mora according to Roman and today's law. Volume 2, 1872, p. 228
  22. ↑ Karl Friedrich Ferdinand Kniep, The debtor's morality according to Roman and present-day law , Volume 2, 1872, p. 234
  23. ^ Thomas Aquinas, Summa Theologiae , Volume 2, 1268, p. 78
  24. ^ Martin Luther, WA 6, 47, 13, 1520
  25. ↑ Gottfried von Miere, thoughts on the legality of the sixth interest thaler in Germany , 1732, p. 111 f.
  26. ^ Rainer Kessler: Interest prohibition and interest rate criticism. Scope and rationale. In: Ingo Kottsieper, Rüdiger Schmitt, Jakob Wöhrle (eds.): Points of contact. Studies on the social and religious history of Israel and its environment , commemorative publication for Rainer Albertz on his 65th birthday. Ugarit-Verlag, Münster 2008, pp. 133–149.
  27. ↑ See the English translation by S. Daiches, H. Freedman, ed. I. Epstein, e-Text, as a book edition by Soncino Press 1967.
  28. ↑ On the rabbinical and Gaonic discussion and practice regarding interest and usury in detail: RP Maloney CM: Usury in Greek, Roman and Rabbinic Thought. In: Traditio. 27, Fordham University Press, New York 1971, pp. 79-109 ( digitized from jstor ). Jacob Neusner : Aristotle's economics and the Mishnah's economics. The matter of wealth and usury . In: Journal for the Study of Judaism in the Persian, Hellenistic and Roman Period 21/1, 1990, pp. 41-59. Hans-Georg von Mutius: Taking interest from non-Jews. Main problems in traditional Jewish law. In: Michael Toch (ed.): Economic history of medieval Jews. Oldenbourg, Munich 2008, pp. 17-23. Hillel Gamoran: The Tosefta in light of the law against usury . In: Jewish Law Association Studies. 9, 1997, pp. 57-78. Hillel Gamoran: Mortgages in Geonic times in light of the law against usury . In: Hebrew Union College Annual. 68, 1997, pp. 97-108.
  29. ↑ See overview and special studies: Hans-Jörg Gilomen : The economic foundations of credit and Christian-Jewish competition in the late Middle Ages . In: Eveline Brugger, Birgit Wiedl (Ed.): One topic - two perspectives. Jews and Christians in the Middle Ages and Early Modern Times. Studien-Verlag, Innsbruck 2007, pp. 139–169. Stefan Schima: The canonical interest law and the Jews. In: Institute for Jewish History Austria (Ed.): Interest prohibition and damage to Jews. Jewish money business in medieval Ashkenaz. Vienna 2010, pp. 20–27. Martha Keil: Money Lending and Medieval Jewish Community. In: Ibid .: Interest prohibition and damage to Jews. Pp. 28-35.
  30. ^ About the usury of Jewish and Christian moneylenders , Jüdisch Historischer Verein Augsburg. Retrieved August 15, 2020.
  31. ↑ See e.g. B. Kurt Schubert, Christianity and Judaism through the ages , Böhlau, Vienna / Cologne / Weimar 2005, p. 97 et passim ( digitized in the Google book search). For further discussion: Hillel Gamoran: The decline and fall of the interest ban. In: CCAR Journal. A Reform Jewish Quarterly. 57/2, New York 2010, pp. 103-112. Daniel Z. Feldman: The Jewish prohibition of interest. Themes, scopes, and contemporary applications . In: Aaron Levine: The Oxford Handbook of Judaism and Economics. Oxford University Press, New York 2010, pp. 239-254. Yechiel Grunhaus: The laws of usury and their significance in our time . In: Journal of Halacha and Contemporary Society. 21, 1991, pp. 48-59.
  32. ↑ Rudolph Franke: The development of loan interest in France , 1996, p. 66
  33. ^ Peter Landau: interest . In: Concise Dictionary on German Legal History , Volume 5. 1996, Col. 1710
  34. ↑ Eberhard Klingenberg, Das Israelische Zinsverbot , 1977, p. 57 ff.
  35. ↑ Steffen Jörg: The prohibition of interest in the Islamic economic order . 2015, p. 54
  36. ↑ Volker Nienhaus: Islam and modern economy . 1982, p. 205
  37. ^ David Hume: The History of England . 1754, Chapter 44, Appendix 3
  38. ^ Richard David Richards: The Early History of Banking in England. 1929, p. 19 f.
  39. ↑ Claudius Salmasius: De Usuris liber . 1638, p. 614
  40. ↑ Karl Friedrich Ferdinand Kniep: The Mora of the debtor according to Roman and today's law , Volume 2. 1872, p. 229
  41. ↑ Gerhard Noodt : De Foenore et Usuris Libri III . 1698, p. 265 ff.
  42. ↑ Stephan Meder, Rechtsgeschichte: An Introduction , 2014, p. 166
  43. ↑ Thomas F. Divine: Interest - An historical and analytical study in economics and modern ethics. 1959, p. 4
  44. ^ Jan Kropholler: International Private Law. 2000, p. 19
  45. ^ Otto Palandt , Christian Grüneberg: BGB commentary. 73rd edition. 2014, § 246 Rn. 2
  46. ↑ BGHZ 15, 87, 89
  47. ↑ Oliver Brand: The international law of interest in England . 2002, p. 135
  48. ↑ Ibrahim Nedim Dalkusu: Basics of interest-free economics. 1999, p. 100
  49. ↑ Barbara L. Seniawski: Riba Today: Social Equity, the Economy, and Doing Business Under Islamic Law . In: Columbia Journal of Transnational Law , 2001, pp. 701, 709