Holy Book Banking is a movement inclusive of Muslims, Christians, and Jewish to revise the economy for a better and brighter future by incorporating principles of the Book into finance, economics, and banking. It is a movement of peace as it calls all of the people of the Book to work together in a concerted effort for the cause of Holy Book Banking. Each faith can contribute what they know about faith-based finance, economics, and banking for a collective effort in producing a more fair and just economy.
Everyone can remember when Jesus smashes the moneylenders stalls in the Bible.
In the Bible, Jesus enters the Temple of God and smashes the moneylenders stalls.
St. Matthew 21: 12-13
“And Jesus went into the temple of God, and cast out all the that sold and bought in the temple, and overthrew the tables of the money changers, and the seats of them that sold doves, And said unto them, It is written, My house shall be called the house of prayer; but ye have made it a den of thieves.”
It is clear, that Jesus as Prophet of God, disdains the use of interest utilized by the money-changers for profit as it exploited the poor.
In Islam, Jesus is a Prophet of God rather than the Son of God. It is interesting to note that Jesus is mentioned quite extensively in the Qu’ran, yet most Muslims do not study the teachings of Jesus.
Clear injunctions can be found throughout the Bible as well against interest and usury or lending at exorbitant interest rates. Exodus 22:24 states “If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him. Leviticus 25:35 says ‘If any of your fellow Israelites become poor and are unable to support themselves among you, help them as you would a foreigner and stranger, so they can continue to live among you.”’ Leviticus 25:36reads “Do not take interest or any profit from them, but fear your God, so that they may continue to live among you.” Leviticus 25:37 says, “Your silver you are not to give him at interest, for profit you are not to give (him) your food.”
Deuteronomy 15:7 states, “If anyone is poor among your fellow Israelites in any of the towns of the land the LORD your God is giving you, do not be hardhearted or tightfisted toward them.” Deuteronomy 15:8 says, “Rather, you are to open, yes, open your hand to him, and are to give-pledge, yes, pledge to him, sufficient for his lack that is lacking to him.”
Deuteronomy 23:20 reads “Do not charge a fellow Israelite interest, whether on money or food or anything else that may earn interest.” Deuteronomy 23:21 says “You may charge a foreigner interest, but not a fellow Israelite, so that the LORD your God may bless you in everything you put your hand to in the land you are entering to possess.”
Psalm 15:5 states “Who lends money to the poor without interest; Who does not accept a bribe against the innocent. Whoever does these things will never be shaken.” Proverbs 28:8 says “Whoever increases wealth by taking interest or profit from the poor amasses it for another, who will be kind to the poor.” Jeremiah 15:10 states “Alas, my mother that you gave me birth, a man with whom the whole land strives and contends! I have neither lent nor borrowed, yet everyone curses me.” Ezekiel 18:8 says “He does not lend to them at interest or take a profit from them. He withholds his hand from doing wrong and judges fairly between two parties.” Ezekiel 18:13 states “He lends at interest and takes a profit. Will such a man live? He will not! Because he has done all these detestable things, he is to be put to death; his blood will be on his own head.”
In 2 Kings 4:1-7, the wife of a man from the company of the prophets cried out to Elisha, “Your servant my husband is dead, and you know that he revered the Lord. But now his creditor is coming to take my two boys as his slaves.” Elisha replied to her, “How can I help you? Tell me, what do you have in your house?” “Your servant has nothing there at all,” she said, “except a small jar of olive oil.” Elisha said, “Go around and ask all your neighbors for empty jars. Don’t ask for just a few. Then go inside and shut the door behind you and your sons. Pour oil into all the jars, and as each is filled, put it to one side.” She left him and shut the door behind her and her sons. They brought the jars to her and she kept pouring. When all the jars were full, she said to her son, “Bring me another one.” But he replied, “There is not a jar left.” Then the oil stopped flowing. She went and told the man of God, and he said, “Go, sell the oil and pay your debts. You and your sons can live on what is left.” The Bible says that we should make it easier financially for one another and help others to relieve others of their debts and escape slavery.
This is a similar theme in the Qu’ran, which states (2:280) “And if the debtor be in straitened circumstances, then grant him respite till a time of ease. And that you remit it as charity shall be better for you, if you only knew.” The Qu’ran tells us that if someone is indebted to you, however, is in a difficult financial situation, make it easy for him or her and if possible, relieve the entire debt completely as an act of charity. In a famous hadith, it was related on the authority of Abu Hurrah, radiyallahu ‘anhu, that the Prophet, sallallahu ‘alayhi wasallam, said: “Whosoever relieves from a believer some grief pertaining to this world, Allah will relieve from him some grief pertaining to the Hereafter. Whosoever alleviates the difficulties of a needy person who cannot pay his debt, Allah will alleviate his difficulties in both this world and the Hereafter. Whosoever conceals the faults of a Muslim, Allah will conceal his faults in this world and the Hereafter. Allah will aid a servant (of His) so long as the servant aids his brother. Whosoever follows a path to seek knowledge therein, Allah will make easy for him a path to Paradise. No people gather together in one of the houses of Allah, reciting the Book of Allah and studying it among themselves, except that tranquility descends upon them, mercy covers them, the angels surround them, and Allah makes mention of them amongst those who are in His presence. Whosoever is slowed down by his deeds will not be hastened forward by his lineage.” Therefore, Islam directs us to alleviate the difficulty of a needy person who cannot pay his debt similar to the Bible in 2 Kings 4:1-7. Islam says that by doing so, Allah will alleviate his or her difficulties both in this world and in the Hereafter.
Parables in the Bible reveal the prohibition on and evils of usury and illustrate how this leads to slavery of the masses by the aristocrats of the same nationality in the same land. In the next story, the Bible shows how families were forced to mortgage land and homes to get grain in order to survive during periods of famine and borrow money with high-interest loans in order to pay taxes on the land. Although they were land owners, under this system, eventually, they lost their land through the trick of interest and nothing in fact belonged to them anymore and they had by default turned themselves and their next generation into slaves of the moneylenders. In Nehemiah 5:2-5,7,10,11 2 Some were saying, “We and our sons and daughters are numerous; in order for us to eat and stay alive, we must get grain.” 3 Others were saying, “We are mortgaging our fields, our vineyards and our homes to get grain during the famine.” 4 Still others were saying, “We have had to borrow money to pay the king’s tax on our fields and vineyards. 5 Although we are of the same flesh and blood as our countrymen and though our sons are as good as theirs, yet we have to subject our sons and daughters to slavery. Some of our daughters have already been enslaved, but we are powerless, because our fields and our vineyards belong to others.” 7 I pondered them in my mind and then accused the nobles and officials. I told them, “You are exacting usury from your own countrymen!” So I called together a large meeting to deal with them. 10 I and my brothers and my men are also lending the people money and grain. But let the exacting of usury stop! 11 Give back to them immediately their fields, vineyards, olive groves and houses, and also the usury you are charging them–the hundredth part of the money, grain, new wine and oil.”
In Ezekiel 18:8-17, lending with interest and profiting therefrom is clearly described as contrary to God’s laws and an act of evil defiance to the Kingdom of God. In fact, this passage indicates that the person who does not charge interest to the people will “live” and flourish in His Kingdom. Ezekiel 18:8-17 states, “He does not lend to them at interest or take a profit from them. He withholds his hand from doing wrong and judges fairly between two parties. 9 He follows my decrees and faithfully keeps my laws. That man is righteous; he will surely live, declares the Sovereign Lord. 10 Suppose he has a violent son, who sheds blood or does any of these other things[a] 11 (though the father has done none of them):He eats at the mountain shrines. He defiles his neighbor’s wife. 12 He oppresses the poor and needy. He commits robbery. He does not return what he took in pledge. He looks to the idols. He does detestable things. 13 He lends at interest and takes a profit. Will such a man live? He will not! Because he has done all these detestable things, he is to be put to death; his blood will be on his own head. 14 But suppose this son has a son who sees all the sins his father commits, and though he sees them, he does not do such things:15 He does not eat at the mountain shrines or look to the idols of Israel. He does not defile his neighbor’s wife.16 He does not oppress anyone or require a pledge for a loan. He does not commit robbery but gives his food to the hungry and provides clothing for the naked. 17 He withholds his hand from mistreating the poor and takes no interest or profit from them. He keeps my laws and follows my decrees. He will not die for his father’s sin; he will surely live.”
It is clear that usury is frowned upon in Christianity.