“UK To Roll Out Sharia Compliant Interest-Free Loans For Muslim Students”, The Commune Mag, September 10, 2025:

“The UK government is preparing to launch one of the world’s first state-backed student loan programs compliant with Islamic finance principles. The initiative, known as Alternative Student Finance (ASF), is expected to become available in late 2026, following the passage of enabling secondary legislation, according to the Department for Education (DfE).

Under this new model, students will not be charged interest on loans—a practice prohibited under Islamic law. Instead, the scheme will function under the principle of Takaful, where pooled contributions support financial aid for current and future students. After graduation, participants will repay the support they received through income-based contributions to the fund.

The ASF will be overseen by an Islamic Finance Supervisory Board (IFSB), with the UK Islamic Finance Council (UKIFC) acting as its secretariat. The initiative aims to accommodate students who refrain from taking conventional loans due to religious restrictions, particularly within the Muslim community……”

Read the full article at Thecommunemag.com