Boro Park, NY — In a significant development for the frum community, Apple Bank—the largest state-chartered savings bank in New York—has officially become kosher certified through the Kosher Financial Institute (KFI), marking a major step forward in the availability of properly structured Heter Iska within mainstream banking.

With this certification, Apple Bank will now offer the KFI’s individual Heter Iska to its customers, allowing individuals and businesses to formally enter into a halachically compliant framework for their financial transactions, in accordance with the highest standards.

Importantly, on the 25th, the bank’s Board of Directors officially approved and adopted the KFI Heter Iska, and it is now available for execution in every branch, making it fully accessible to customers across the bank’s network.

Until now, Apple Bank had maintained a general Heter Iska (Heter Iska Kloli), upon which many relied. However, the introduction of the KFI-certified structure significantly elevates the standard, providing a clearer, more robust, and widely recognized framework that can be individually executed.

Askonim note that issues of ribbis in modern finance have long been complex, often leaving consumers uncertain as to the proper halachic approach. The availability of a structured, accessible, and professionally implemented Heter Iska through a major financial institution addresses a longstanding need in the oilam.

The KFI certification is widely regarded as one of the most rigorous in the field, with careful oversight and adherence to halachic requirements. Its adoption by a major institution such as Apple Bank reflects a growing awareness and demand for higher standards in these inyanim.

With Apple Bank’s broad reach and established presence, this move is expected to have a meaningful impact, making it easier for the tzibbur to conduct everyday financial dealings without shailos of ribbis.

As more institutions begin to recognize the importance of these concerns, askonim anticipate that additional banks and lenders may follow suit, further expanding access to properly structured Heter Iska across the industry.