Department for Education · Awarded contract

Awarded

Advisory Services for Sharia-Compliant Alternative Student Finance Product by UKIFC

Awarded 29 Sep 2024

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Awarded29 Sep 2024

Value£174,000.00

SupplierUKIFC

AgencyDepartment for Education

RegionUnited Kingdom

CategoryFinance & Insurance

Ended 1mo ago1y 12mo term

Awarded 29 Sept 2024Expired 27 Sept 2026

About

Department for Education awarded a contract to UKIFC for specialist advice on the development of a Sharia-compliant alternative student finance (ASF) product.

The contract, valued at £174,000, supports the government's commitment to introduce an ASF product using the Islamic finance principle of 'Takaful' for group-based mutual support, following the Higher Education and Research Act 2017 and the Lifelong Learning Entitlement reforms.

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