Last week, Stephen tabled an Early Day Motion in the House of Commons. It called on the government to introduce a Sharia-compliant funding system for Muslim students.
The former Prime Minister David Cameron told the World Islamic Economic Forum in 2013 that he would introduce an alternative student finance scheme for Muslims wanting to go into Higher Education. A government consultation, which concluded the following year, suggested that a Takaful fund be put in place. Despite its commitment, the government has not taken any action.
A number of Muslim students in the UK cannot access higher education because they are unable to take on interest from traditional student loans. The proposed “Takaful” fund would not be interest based, but would result in identical repayments to the current student loan system.
Stephen, who is keen that a new system be put in place prior to the 2022-23 academic year, said: “The traditional finance system is unfair on some Muslim students as they are prohibited from taking on interest-based loans to fund their tuition fees.
“Our education system must provide equal opportunities for all students. I hope my Early Day Motion will help persuade the government to act on their promise.”
To read the Early Day Motion, click here. You can also read a letter Stephen wrote to the Education Secretary about this here.
