March 18, 2000
Source: Star Tribune
On March 18, 2000, the Minneapolis Star Tribune printed an article outlining the Jewish resolution to the difficulties that arise from the religious prohibition (shared by Jews and Muslims) of payment of interest. The concept of "Heter Iskah" requires that both parties to the financial transaction agree to be "partners in a joint venture" and to share the profits rather than structure the relationship as "lender-borrower" with interest payment. Muslims have arranged formal joint ventures, but this has often proven cumbersome without a mediating concept such as the "Heter Iskah," which can be easily implemented.