Student Loans

My Lords, at the outset, I declare that I co-chair the APPG on Islamic Finance. In 2013, David Cameron spoke at the World Islamic Economic Forum and made a promise to introduce a sharia-compliant student loan scheme. In March 2017 and in July 2019, I and other noble Lords spoke on the subject in your Lordships’ House. We were told that the Government were committed to introducing a suitable arrangement; I understand that a comprehensive submission has been made by the advisers to the DfE on the arrangements. There is no mention of sharia-compliant student loans on the SLC website. Can my noble friend say what progress has been made regarding the scheme and what is the timetable for its introduction?

 

Link to full debate on Hansard. 

Updated: 29/09/2020 — 3:29 PM