O you who have believed, do not consume riba (interest), doubled and multiplied, but fear Allah that you may be successful. [3:130]
One of the most wide-spread and destructive evils of our time is riba, interest on loans. At the core, interest loans benefit the rich and prey upon the poor; those who are needy get the money, but have to return far more. And students are prime targets for “student loans,” many of which take as much as a decade to pay back.
Enter Radiance. We aim to provide a large-scale, self-sustaining alternative to interest-bearing loans. This may appear in the form of non-interest loans, bursaries and scholarships, or some other mechanism. We hope to address primarily the needs of thousands of students. (And yes, we may support businesses as part of a future project.)
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