17.12.2009 - Full conversion to Islamic finance by end-2010, says PTPTN
From Theedgemalaysia.com: The National Higher Education Fund (PTPTN) plans to convert its conventional education loan scheme for all current 1.45 million student borrowers to the new syariah-compliant education financing programme by December next year. Pursuant to the conversion, the 4% interest rate for loan repayment under conventional banking scheme will be replaced with a 1% administrative charge under the new scheme based on the Islamic principle of Ujrah......................................Full Article: Source
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