I had written about bringing interest-free student loans to Canada before. Now its time to make it a reality.
Team RICE, which includes members of the MSA, has been selected as a potential finalist for the RBC Challenge Competition to bring Interest-Free, 100% Islamically Compliant student loans to Canada. This project is endorsed by Dr. Azeemuddin Subhani of Islamic Finance Advisory Board. The proposal summary is available below and on the website link. If this Team is voted in, we might be one step closer to interest-free financial products being offered by mainstream banks in Canada.
Please click here and vote for Team 3. You can vote once every day up to Jan. 21st!