Monday, 9 June 2014

Why not Sharia loans for all?

by Mick Fletcher

In April BIS issued a consultation on proposals to develop a sharia compliant finance product that might serve as an alternative to higher education loans1 – see .  The aim of the proposals is to overcome the potential difficulties in accessing higher education that might be experienced by those whose faith is offended by payment of interest or usury.  Although this may seem a somewhat specialised, even abstruse consultation the content is actually of much wider interest.