ADVICE ON ISLAMIC FINANCE FOR ALTERNATIVE STUDENT FINANCE (ASF)

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EXPRESSION OF INTEREST Background: In April 2014, the DfE launched a consultation on a Sharia-compliant alternative student finance (ASF) product. Through the consultation views were obtained on the acceptability of an ASF product based on a 'Takaful' model and, following a positive response to the proposal, the Government committed to the introduction of ASF. The Government has since legislated to make a system of ASF possible, when the power for this was taken in the Higher Education and Research Act 2017, and has worked with specialist advisers on the development of an ASF model. Alongside this, the Government has been reforming the student finance system to put it on a sustainable footing for the long term and is introducing the Lifelong Loan Entitlement (LLE), that will significantly change the ways students can access learning and financial support. We require information on your capability and capacity to provide the specialist advice detailed on the attachment. Through this Expression of Interest (EOI), suppliers are required to confirm whether they can meet the criteria and timescales to deliver the requirements set out at sections 3 and 4 of the attachment. The objective of the EOI is to understand the market capability to deliver this requirement and it will inform a future procurement activity planned for Q4 FY 2022/23. Please see the attachment for further information needed in order to reply to this EOI.

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