In the place of paying rates of interest the guy/she will refund flaccid mortgage towards the waqf institution without having any attention
Which Islamic model might be mind-money, implying which has actually too-much loans in order to disburse having academic money
Based on the early in the day talk, it is obvious one to, mortgage which is given by higher education mortgage board is actually inconsistent with Islamic legislation because it’s has the section of focus (riba) that is taboo not as much as sharia law. In addition, variety of riba are categorized because riba al-nasi’ah which makes reference to a certain duration provided to lender to possess repayment regarding loan in return for extra percentage. One predetermined commission along side more than genuine level of prominent contribution are blocked in the Islam (Muhammad Abu Zuhra ). Therefore, this isn’t invited having Muslim children to apply for highest education loan; while the live messenger from Allah cursed the proceed the site one who welcomes the brand new riba therefore the person who will pay it.
The Islamic design contemplates brand new contribution regarding around three trick agents throughout the the method: Pupils, Degree Loan Board and you can Waqf Organization hence relies on immovable property such agricultural residential property, commercial strengthening etc., money from these systems will be used to finance free interest loan (Qard Hassan), towards the youngsters who follow advanced schooling. ادامه مطلب