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Offline Adil Husain

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Study Loan
« on: March 27, 2013, 07:48:17 PM »
Salamunalaikum  :) ,

Some state governments in India  provide Study Loan to students who can not afford College fee for their higher education at a LOW INTEREST RATES that too is paid by the candidate himself after completing studies and getting a job.
My room mate's friend asked about it in a Local mosque and the clergy's reply was much like '' loan @ low interest rates is a Planned scheme of the government so that Muslims get indulged in activities related to Riba (This was his personal Opinion)''

Quran does not prohibits 'paying' interest if compelled due to the circumstances.

My Question is
Will a Country whose constitution is based on Quran alone allow such Low interest schemes ?
Is it allowed for a Muslim to use such schemes ?

Thank you in advance for your replies.
'I must strive for reformation of myself and the world'