UK government urged to make good on Shariah-compliant loans promise
- Survey: Thousands of Muslims miss out on university every year because they cannot access Shariah-compliant finance
- Implementation of Islamic loan system a question of political priority,’ expert tells Arab News
LONDON: MPs, campaigners and Islamic finance professionals will deliver a letter to UK Prime Minister Boris Johnson on Tuesday urging him to take action that would end the annual exclusion of thousands of British Muslims from higher education.
A survey by the Muslim Census, published on Monday, found that thousands of young British Muslims choose not to go to university every year because the loans they rely upon to fund their studies bear interest.
There is a genuine and widespread need for ASF (alternative student financing), and its absence is leading to unequal access to university, reads the letter signed by Lord Sharkey, MP David Timms, Islamic Finance Guru CEO Ibrahim Khan, Rizwan Yusoof of the National Zakat Foundation and Asha Hassan, a student finance campaigner.