Heter iska form 2025

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The document is a contract between an Investor and a Receiver regarding an investment arrangement. The Receiver acknowledges receipt of funds from the Investor, commits to using the money for profitable investments, and outlines profit-sharing terms. In case of personal use of the funds, ownership is transferred to the Investor. The contract specifies conditions for reporting losses, return timelines, and obligations related to profits and losses, all governed by Jewish law.

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What is a Heter Iska agreement?

Heter Iska is, in short, an agreement between the customer and the financier that the transaction being provided is a partnership where all profits must be shared under a stringent set of reporting requirements. If the customer wishes to pay a specified rate in lieu of profit sharing, the customer may do so.

What are the terms of Heter Iska?

Under the terms of the Heter Iska, the loan relationship between the lender and the borrower established in the Loan Documents is re-cast as an investment partnership relationship. In the investment partnership, the lender adopts the role of investing partner, and the borrower adopts the role of managing partner.

Is Heter Iska legal?

At its core, a Heter Iska alters the traditional roles of borrower and lender into those of investor and manager. In this new relationship, the lender becomes the investor, while the borrower takes on the role of a manager. This change allows for earnings in a way that is entirely permissible under Jewish law.

What are the benefits of Heter Iska?

Under a heter iska arrangement, the lender and borrower enter into a mutually beneficial partnership wherein profits are shared. This partnership model allows for the lender to receive a return on his investment without running afoul of the prohibition of charging interest.

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