British PM Announces New Measures To Help Muslim Students And Entrepreneurs

David Cameron hosts an Eid al-Adha reception at Downing Street.START-UP and student loans are to be made in line with Islamic financial principles so they can benefit Muslim entrepreneurs and students, the government has announced.
The Islamic community prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money, and bans investing in businesses that provide goods or services considered contrary to Islamic principles.
The extension of the loan schemes, unveiled by Prime Minister David Cameron, will be available for anyone who adopts such principles – not just Muslims.
Cameron said anyone who is using the extended scheme will not be at any advantage or disadvantage, as they will repay the same amount as other borrowers.
Cameron said: “I want Britain to be one of the world’s centres of Islamic finance – from the highest and mightiest financial institutions all the way to start-ups”.
“We’ve got tens of thousands of young people starting their own businesses and tonight I can announce that we will make sure that there is a type of Start-Up Loan that is totally consistent with all the principles of Islamic finance”.
Praising the Muslim community for their contribution within the UK, the Prime Minister said: “Tonight is about celebrating the contribution that British Muslims make to our country”.
“Tonight is also an opportunity to talk about the issues of integration, of how we help Muslims around the world and the importance of faith in our country and in our communities and the Muslim faith is so strong in that”.

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