Source: https://tendernation.io/opportunities/01a13cca-2214-713b-8aa3-e9700c4bffd9/project-8769-asf-sharia-supervisory-board-secretariat pending GB open procedure Suitable for SMEs # project\_8769 - ASF Sharia Supervisory Board Secretariat [Department For Education](https://tendernation.io/buyers/department-for-education) Estimated value Not stated Published 23 Nov 2023 Deadline Rolling deadline ## Who can bid - Buyer says suitable for SMEs The buyer ticked “suitable for SMEs” on the notice. Anyone can still bid. - Buyer says suitable for VCSEs The buyer ticked “suitable for voluntary, community and social enterprises” on the notice. - Open procedure Anyone can submit a full tender; there is no shortlisting stage. [More contracts for small businesses and VCSEs](https://tendernation.io/opportunities/for-small-businesses) ## About this tender DEPARTMENT FOR EDUCATION: ALTERNATIVE STUDENT FINANCE (ASF) SHARIA ### SUPERVISORY BOARD SECRETARIAT In April 2014, the DfE launched a consultation which sought views on the acceptability of a Sharia-compliant alternative student finance (ASF) product. Following a positive response to the proposal, the Government committed to the introduction of an ASF product, using the Islamic finance principle of 'Takaful' to provide a form of group based mutual support. 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 Learning Entitlement (LLE), that will significantly change the ways students can access learning and financial support. In March 2023, as part of the LLE consultation response, the DfE committed to delivering ASF as soon as possible after the introduction of the LLE. In August 2023, the Student Loans Company (SLC) started work on understanding the timescales for delivering an ASF product and, to support this, are being provided with specialist advice by Islamic finance experts. Before launch, the ASF product will need to pass a comprehensive Sharia assurance process, in line with Islamic finance industry norms. The DfE is seeking to appoint a Sharia secretariat who will oversee this process. For more details, please refer to the EOI document enclosed. Pleaser respond to the EOI via the jaggaer link: [education.app.jaggaer.com](https://education.app.jaggaer.com/esop/guest/go/opportunity/detail?opportunityId=57364) Read full description ## CPV classification Business and management consultancy and related services Source Contracts Finder (UK) [View official notice](https://www.contractsfinder.service.gov.uk/notice/c6ee75dd-de54-48d5-a63d-3166989c2d0b) Never miss a tender like this again Get AI summaries, deadline alerts and a bid pipeline for tenders matched to your business. Free to start. 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