Our banking should agree with Christ

Debt is a major problem today for nations, cities, families, etc.

One reason is that we have not insisted that our own banks agree with Christ: the laws and teaching of the Holy Bible about charging interest-on-loans and cancelling debts.

Christ's teaching that it's unjust to charge interest on loans [1] is entirely consistent with the rest of the Holy Bible [2].

Can we have banks that do not charge interest? Yes.

One way for a bank to operate is to be a shareholding company: 
1. When the bank lends money it receives part-ownership.
2. People put their money in the bank by buying shares in the bank.
3. When a person wants to take money out of the bank, they sell shares.

For the shares to have a stable value, the bank must focus on financing stable assets, such as land and businesses.

This also helps to avoid crisis, because such banks will not provide money where the returns on the investment are not clear.


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Notes

[1] "...I reap where I did not sow, and gather where I did not scatter? Then you ought to have invested my money with the bankers, and on my return I would have received what was my own with interest." (Matthew 25:26-27, NRSV)

[2] "You shall not charge interest to your brother—interest on money or food or anything that is lent out at interest." (Deuteronomy 23:19, NKJV)

"O Lord, who may abide in your tent? Who may dwell on your holy hill? Those who walk blamelessly, and do what is right... who do not lend money at interest...." (Psalm 15:1, 2a, 5a, NRSV)

"Now the person who shall be righteous, the one who performs judgment and righteousness,... shall not give his money for interest and shall not take excess...." (Ezekiel 18:5, 8a, NETS)


NETS: Quotations marked NETS are taken from A New English Translation of the Septuagint, ©2007 by the International Organization for Septuagint and Cognate Studies, Inc. Used by permission of Oxford University Press. All rights reserved.

NKJV: Scripture taken from the New King James Version®. Copyright © 1982 by Thomas Nelson. Used by permission. All rights reserved.

NRSV: New Revised Standard Version Bible, copyright © 1989 the Division of Christian Education of the National Council of the Churches of Christ in the United States of America. Used by permission. All rights reserved.