This latest article published by Arab News details how NZF and others urge for government to issue Shari compliment student loans.
October 18th 2021
Every year, thousands of Muslims are missing out on the opportunity to pursue higher education at university because they cannot access Shariah-compliant finance.
Current student finance options bear a heavy reliance on interest, which is religiously prohibited for Muslims to engage with. This means that young British Muslims are choosing not to go to university to avoid compromising their Islamic values.
Despite pledges made by previous prime ministers to deal with the inequity in access to education for Muslims, the issue remains.
In response, MPs, campaigners and Islamic finance professionals have united to deliver a letter to UK Prime Minister Boris Johnson urge him to take action that would empower young Muslims.
“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.