Posted on 04/04/2014 6:42:36 PM PDT by marshmallow
The Universities Minister unveils plans for ‘Sharia-compliant’ student loans amid fears Muslims are being put off degree courses by the higher education finance system
A new system of “Sharia-compliant” student loans is to be launched to allow more Muslim students to go to university, it has been announced.
David Willetts, the Universities Minister, said an alternative financial model was being created to satisfy Islamic law that forbids Muslims taking out loans that make interest.
Under the system, students would apply for taxpayer-backed loans but repay them into a mutual-style fund that would be ring-fenced to provide future finance to other students with the same religious beliefs.
The move will raise concerns over a two-tier system in which Muslim students pay less than other undergraduates.
But the Government insisted it would be set up in a way that ensured repayments were made at the same rate as students who take out traditional student loans.
(Excerpt) Read more at telegraph.co.uk ...
If they don’t pay us back we get to behead them?
What could go wrong with such a brilliant idea?
Then twenty years from now, muslims will demand that women be excluded from universities altogether, because educated women offend muslim sensibilities. And guess what? U.K. officials will oblige. Because by then the officials will be muslims themselves.
Somewhat off topic, but I found through work expierence there is a entity called ISDA in the banking/trading/finance world. Its the agreed definitions and valuations for derivatives(equity, rates, TX commodity etc....). There is agreements for the country of Law; e.g. NY, Singapore, London etc....there is an agreement for Shari’a Law for Shari’a law compliant comapanies. There is a company that trades on the NASDAQ, symbol cbou that is Shari’a compliant and that is the holding company for caribou coffee.
There is probably more, I just stumbleled on this in my reasearch.
Muslims don’t pay interest so how does this work?
The UK has taken point in the rush of the West to collapse and descend into the abyss of death and destruction. US not far behind.
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