Press Releases

Halal Finance for Students: Muslim Council of Britain Welcomes Government Initiative

18 May 2016

The Muslim Council of Britain today welcomed the government’s White Paper on making available Shariah-compliant student loans. Praising the government, Dr Shuja Shafi said: “The government is to be commended for making this positive step, it would allow Muslims to fulfil their religious obligation to study and to avoid interest. This will undoubtedly pave the way for more students to participate in higher education, and there is no reason why non-Muslims too should not be able to benefit from this as well.”

The Muslim Council of Britain, particularly its economic adviser Professor Iqbal Asaria who has campaigned for this provision for the last 15 years; as has our affiliate the Federation of Student Islamic Societies (FOSIS), as well as Baroness Sayeda Warsi who provided much leadership on this as well as the Al-Rayan Bank UK. We commend everyone involved in ensuring that this provision is brought to the government’s attention.

[Ends]

Notes to Editors:

The Muslim Council of Britain is the UK’s largest Muslim umbrella body with over
500 affiliated national, regional and local organisations, mosques,
charities and schools.

For further information please contact:
The Muslim Council of Britain
PO Box 57330
London
E1 2WJ
Tel: 0845 26 26 786
Fax: 0207 247 7079
[email protected]

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