Following a consultation in 2014 on a Sharia-compliant alternative finance product which sought to obtain views on the acceptability of an alternative finance product based upon the Takaful Model, officials in the Department for Business, Innovation and Skills are working with Islamic finance experts to consider the introduction of a possible alternative finance product, including terms and conditions that would be Sharia-compliant and equivalent to other student loans. Advice has been received from Al Rayan Bank (formally Islamic Bank of Britain).<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4039", "label" : {"_value" : "Biography information for Lord Johnson of Marylebone"} } , "answeringMemberConstituency" : {"_value" : "Orpington"} , "answeringMemberPrinted" : {"_value" : "Joseph Johnson"} , "dateOfAnswer" : {"_value" : "2015-09-07", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-09-07T14:26:39.443Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2015-07-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Students: Loans"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, what advice he has received from Islamic scholars on the writing off of sharia compliant student loans.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/473", "label" : {"_value" : "Biography information for Sir Mark Hendrick"} } , "tablingMemberConstituency" : {"_value" : "Preston"} , "tablingMemberPrinted" : [{"_value" : "Mr Mark Hendrick"} ], "uin" : "7681"} , {"_about" : "http://data.parliament.uk/resources/79034", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/79034/answer", "answerText" : {"_value" : "
Information on the number of applicants from schools in constituencies in Lancashire is not held centrally.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1578", "label" : {"_value" : "Biography information for Greg Clark"} } , "answeringMemberConstituency" : {"_value" : "Tunbridge Wells"} , "answeringMemberPrinted" : {"_value" : "Greg Clark"} , "dateOfAnswer" : {"_value" : "2014-10-20", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2014-10-20T14:49:59.5467044Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2014-07-21", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Higher Education: Lancashire"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, how many students at schools in (a) Preston constituency and (b) each other constituency in Lancashire applied for higher education places in each of the last five years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/473", "label" : {"_value" : "Biography information for Sir Mark Hendrick"} } , "tablingMemberConstituency" : {"_value" : "Preston"} , "tablingMemberPrinted" : [{"_value" : "Mark Hendrick"} ], "uin" : "206749"} , {"_about" : "http://data.parliament.uk/resources/48090", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/48090/answer", "answerText" : {"_value" : "
Information on the repayment of student loans is published in the Statistical First Release\u201cStudent Loans for Higher Education in England\u201d<\/em>. The latest publication is available at the following link.<\/p> Student Loan Repayments Financial Years 2009-10 to 2012-13 : amounts (£m)<\/strong><\/p><\/td><\/tr> Financial Year<\/strong><\/p><\/td> 2009-10<\/strong><\/p><\/td> 2010-11<\/strong><\/p><\/td> 2011-12<\/strong><\/p><\/td> 2012-13<\/strong><\/p><\/td><\/tr> Repaid directly by customer to SLC<\/strong><\/p><\/td> 302.2<\/p><\/td> 326.5<\/p><\/td> 294.6<\/p><\/td> 256.9<\/p><\/td><\/tr> Reported by HMRC as collected via PAYE and Self-Assessment<\/strong><\/p><\/td> 726.4<\/p><\/td> 850.0<\/p><\/td> 1,044.9<\/p><\/td> 1,185.3<\/p><\/td><\/tr> Refunded by SLC to customer<\/strong><\/p><\/td> -18.8<\/p><\/td> -33.6<\/p><\/td> -33.6<\/p><\/td> -35.5<\/p><\/td><\/tr> Total amount repaid, including interest, during the financial year<\/strong><\/p><\/td> 1,009.7<\/strong><\/p><\/td> 1,143.0<\/strong><\/p><\/td> 1,305.9<\/strong><\/p><\/td> 1,406.8<\/strong><\/p><\/td><\/tr> Source: Statistical First Release Student Loans for Higher Education in England<\/em><\/p> <\/p><\/td><\/tr> Notes:<\/p> - Repayments are shown in the financial year when they are posted to customer accounts. The SLC are notified of repayments by HMRC, usually within one year of the end of the tax year to which they relate.<\/p> <\/p> - Refunds can occur when an account holder has overpaid SLC in previous financial periods for various reasons.<\/p><\/td><\/tr><\/tbody><\/table>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/53", "label" : {"_value" : "Biography information for Lord Willetts"}
}
, "answeringMemberConstituency" : {"_value" : "Havant"}
, "answeringMemberPrinted" : {"_value" : "Mr David Willetts"}
, "dateOfAnswer" : {"_value" : "2014-04-28", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2014-04-28T12:00:00.00Z", "_datatype" : "dateTime"}
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, "date" : {"_value" : "2014-04-09", "_datatype" : "dateTime"}
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, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, what revenue the Government received through student loan repayments in (a) 2010, (b) 2011, (c) 2012 and (d) 2013.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/473", "label" : {"_value" : "Biography information for Sir Mark Hendrick"}
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, "tablingMemberConstituency" : {"_value" : "Preston"}
, "tablingMemberPrinted" : [{"_value" : "Mark Hendrick"}
], "uin" : "196183"}
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