Q. Lechvod Harav Shlita. A couple of weeks I submitted a question on whether it is permissible to buy State of Israel bonds. My cousin in Sweden had asked me to buy a bond for a Bar Mitzvah boy because he can't do so in Sweden but I do not need if this is something that requires a heter Iske I would appreciate the Rav's guidance. With thanks.
A. On question 488 we mentioned:
“Q. Dear Rabbi, Is it permissible to buy Israeli bonds as one receive interest from them. Or is it considered good as one is helping the country of Israel.
A. The following appeared on question 390 “Israel Bonds and Ribbis” on this forum:
“Maharshag (Y.D. 50) and Igrois Moishe (Y.D. 2:63) permit lending with interest when dealing with a Jewish owned corporation, since the owners do not carry personal liability and any liens arelimited to the corporate assets. Lending to the government of Israel would be similar.
Many Poiskim disagree with the above ruling and consider in reality a corporation not more than a partnership that is obligated to lend without ribbis. (See; Minchas Shlomo 1:25, Minchas Yitzchok 3:1, Ohr Mitzion Y.D. 5, et. al.) However Har Zvi (Y.D. 126) suggests that a Jewish government, since it has no identifiable or defined owners, is indeed different and is similar to Hekdesh.”
Many other Poskim provide similar permissions (Horav I.A. Liebes in Bais Avi 117, Bris Yehudo 7: 68, V’chai Achicha Imcha p. 35, Sefer Hashabit 4: 49 et. al.). Horav Shlomo Miller Shlit”a pointed to a similar ruling of the Chavas Daas (Y.D. 168-169: 17: Biurim 33) on regards to the borrowing done by the leaders of a congregation, where there is no borrower or lender.
Poskim addressing this question write that the former Chief Rabbis of Israel instituted a Heter Iska for Israeli banks and bonds (Horav I.A. Liebes in Bais Avi 117, Bris Yehudo 7: 68, V’chai Achicha Imcha p. 35). I remember seeing a copy of this Heter Iska Klali, in the offices of Israel Bonds in Mexico, when recently I requested a copy, the head office forwarded a Teshuvo written by Horav Ben-Zion Meir Hai Uziel Zt’l, that permits buying bonds and seems to be saying that additionally there was a Heter Iska K’lali.
However, some Poskim disagree and would request to add to your Israel Bonds purchase application a Heter Iska condition, pointing out to which one you are referring to. (See Zechor Ymois Olam p.172, quoting the Sattmar Rebbeh Zt”l). Sefer Hashabit (ibid.) who regards buying Israel Bonds a mitzvah, suggests that additionally you can on the onset rescind and forgive your right to the interest given, this constituting an indirect donation.
It is certain that care should be taken to certify that the procedure was done correctly.”
Rabbi A. Bartfeld as revised by Horav Dovid Pam, Horav Aharon Miller, Horav Chanoch Ehrentreu and Horav Kalman Ochs Shlit’a
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