Sharia on the streets, sharia in the banks, sharia in the schools. Londonistan is here. via Muslims demand Sharia student loans because paying interest goes against Islamic law | Mail Online.
Muslim groups are calling for a separate student loan system because the interest due to be charged will conflict with rules of Sharia law.
The changes to tuition fees, which come into force next year, will see students charged higher rates of interest on the loans they take out to pay for university.
Until now they have paid the market rate of inflation but the reforms mean students who go on to earn more than £21,000 will have to pay interest of up to 3 per cent.
But in some interpretations of Sharia law, which is Islam’s legal system and governs every aspect of Muslim life, loans are forbidden.
The National Union of Students has said it could be two years before an alternative system is worked out, leaving some Muslims fearing they cannot go on to further education.
The Federation of Student Islamic Societies told The Independent that the rate increase was a ‘pressing issue’.
A spokesman said: ‘Because the rate of interest is above the rate of inflation, it is quite blatant usury.’
Usury means the practice of lending money and charging the borrower interest, possibly at a very high rate.
The Department of Business, Innovation and Skills says discussions are ongoing with student groups about a solution.
But it is thought an alternative, such as already happens with mortgages in which education could be ‘rented’ instead, may not be agreed until the 2013/14 academic year.
Enough Muslim demands. Isn’t it time for Westerner’s to start demanding Muslims adapt or leave?