UK: Muslim students call for sharia-friendly loans

GUARDIAN ^ | 04/26/04 | Polly Curtis

[Pikamax]

Muslim students call for sharia-friendly loans

Polly Curtis Monday April 26, 2004

Pressure is mounting on the Department of Education and Skills to provide a Muslim-friendly student loan. Representatives of the Federation of Student Islamic Societies met with the education secretary, Charles Clarke, last week to discuss the problem, which affects students and their families who believe that taking out a student loan contravenes Islamic sharia law.

The law dictates that Muslims should not pay or receive interest on loans.

However, the Muslim community is split over whether student loans, which incur inflation-only levels of interest, are against sharia law. Student activists say that some Muslims are being asked to break their faith or forgo the opportunity for financial assistance during their studies.

The meeting follows new moves towards providing alternatives to suit Muslim families in the commercial sector. The HSBC bank has set up a Muslim-friendly mortgage and pension scheme which satisfies the demands of sharia law.

Hasan Salim Patel, of the Federation of Student Islamic Societies, said representatives were given a clear message from the education secretary that the DFES would consider any alternatives to the traditional student loan which were put before it.

"We've been asked to research the options, which we will do," he said. Possibilities the federation is considering include an endowment or tax which would oblige Muslims to repay fees, but with no interest attached.

A spokesperson for the Department for Education and Skills said: "We appreciate the Muslim position on borrowing. But, it is important to remember that student loans do not incur a real rate of interest and the government does not make any profit out of these loans. The uptake of student loans amongst Muslim students compares favourably with other groups.

"We have no plans to introduce different loans for different groups but we are working closely with the Federation of Student Islamic Societies on other ways forward on this."

[John Thornton]

If it is immoral to pay or receive interest on a loan, why doesn't a fellow Moslem just loan them the money for no interest?

[CzarNicky]

If they don't like the loans they don't have to take them.

[RightWhale]

why doesn't a fellow Moslem just loan them the money for no interest?

That would be the thing to do. Shouldn't the loans be in cold gold?

[null and void]

Bingo.

[The kings dead]

Where does Islamic sharia law stand on sponging off taxpayers?

[joesnuffy]

The law dictates that Muslims should not pay or receive interest on loans.

Amazing...that they would even take any money for anything from infidels...though they sure go for those blonde haired blue eyed infidel womenz....

[2banana]

So why does Saudi Arabia have a foreign debt of about 30 billion dollars?

[Redcoat LI]

Easy.

Take the hightest possible interest rate,multiply by the years of the loan,add it to the principal amount,issue the loan for that amount.

[freedomson]

Maybe they should blow up some public places and see if that doesn't make the Department of Education capitulate.

[antiRepublicrat]

IIRC, usury bit in the Quran is more about fair trade and extends to all transactions. The ban on interest is often taken to be a ban on excessive interest, and I seem to remember 2x the repay amount being called excessive and banned under the usury prohibition. Besides, the prohibition is on Muslims themselves, not the government.

They just want a free ride and are using their religion as an excuse. They should also look at the long list of Muslim banks out there that deal with various kinds of interest every day.

[Dr. Frank fan]

Student activists say that some Muslims are being asked to break their faith or forgo the opportunity for financial assistance during their studies.

That is correct. Just like, they are asked to break their faith or forgo eating pork.

If they don't like it, they should pay for college their damn selves, not go to college, or relax their understanding of Islamic principles to allow (some) interest. Why the hell is it society's responsibility to resolve their own moral dilemmas? What a childish conception of religion these whiners have.

[Dr. Frank fan]

Where does Islamic sharia law stand on sponging off taxpayers?

It's for it, apparently.

[antiRepublicrat]

If it is immoral to pay or receive interest on a loan, why doesn't a fellow Moslem just loan them the money for no interest

That reminds me. A huge chunk of their tax money is being used to pay interest on the national debt. So either they can make a stupid claim that they shouldn't pay taxes and go to jail, or they can just leave.

[Dr. Frank fan]

Ever notice how a lot of supposedly pious, faith-based Islamic principles are things that, coincidentally, seem almost as if they're designed to enrich Muslims, either in treasure or in land? They "can't pay interest" - thus we MUST give them interest-free loans. Such-and-such city is a "holy city" - thus it must be left in the hands of the local warlord (don't occupy). The Arabian Peninsula is "holy land" - thus it (and its oil) must be kept cleansed of non-Arab/Muslim influence.

What a coincidence that all of these "religious" demands are simultaneously temporal power grabs for people they consider to be of the correct religion!

Just saying.

[Mears]

I'm a lady and I shouldn't say it,but these Muslims really have the b**** to say that interest is against their religion?

As John Stossel would say,"Give me a break!"

[Ima Lurker]

The sad thing is, we're just PC enough to do something this stupid.

[Lee Heggy]

Letter from the Calif Omar to the Vizer Amrou at Alexandria:

" As for the books you mention, here is my reply. If their content is in accordance with the book of Allah, we may do without them, for in that case the book of Allah more than suffices. If on the other hand, they contain matter not in accordance with the book of Allah, there can be no need to preserve them. Proceed then and destroy them."

Based upon this historical precedent I see no need on for there to be any Muslim students let alone provide them with special loans for education. Their 'book of Allah' is all they need. So be it.

[Elric@Melnibone]

Right!

Department of Education and Skill's loans, their rules.

If the Muslims don't like it they can take their business elsewhere.

[rottweiller_inc]

The solution is simple: Let them get thier loans from other muslims.

[Sender]

Darn right. The West has no obligation, NONE, to set up special loans or banks or anything else for muslims, period.

When they come to our countries, they are under OUR laws, not shari'a laws, and they can do business as we do or go home.

[tkathy]

How do they feel about the money-for-murder that seems to float freely around the Muslim world. That's probably just fine with them.

[livius]

Any money distributed this way would go directly into terrorism, in any case.

If Muslims object to "usury" so much, they can borrow from other Muslims (who don't receive interest, per se, but certainly don't do this all for free).

[Ditto]

All he has to do is go here: