Notice Information
Notice Title
Project_8769 ASF Sharia Secretariat Supervisory Board con_26061
Notice Description
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.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-b5fd17-c9b5efa8-7966-4825-ad56-05509b3a8717
- Publication Source
- Contracts Finder
- Latest Notice
- https://www.contractsfinder.service.gov.uk/Notice/e362a0ee-31d6-4171-9304-74ca8bfa00e4
- Current Stage
- Award
- All Stages
- Award
Procurement Classification
- Notice Type
- Award Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Open
- Procurement Method Details
- Open procedure (above threshold)
- Tender Suitability
- SME
- Awardee Scale
- Large
Common Procurement Vocabulary (CPV)
- CPV Divisions
66 - Financial and insurance services
-
- CPV Codes
66000000 - Financial and insurance services
Notice Value(s)
- Tender Value
- £174,000 £100K-£500K
- Lots Value
- Not specified
- Awards Value
- £174,000 £100K-£500K
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 31 Oct 20241 years ago
- Submission Deadline
- 5 Apr 2024Expired
- Future Notice Date
- Not specified
- Award Date
- 29 Sep 20241 years ago
- Contract Period
- 29 Sep 2024 - 28 Sep 2026 1-2 years
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Not Specified
- Awards Status
- Active
- Contracts Status
- Not Specified
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- DEPARTMENT FOR EDUCATION
- Contact Name
- Available with D3 Tenders Premium →
- Contact Email
- Available with D3 Tenders Premium →
- Contact Phone
- Available with D3 Tenders Premium →
Buyer Location
- Locality
- LONDON
- Postcode
- SW1P 3BT
- Post Town
- South West London
- Country
- England
-
- Major Region (ITL 1)
- TLI London
- Basic Region (ITL 2)
- TLI3 Inner London - West
- Small Region (ITL 3)
- TLI35 Westminster and City of London
- Delivery Location
- Not specified
-
- Local Authority
- Westminster
- Electoral Ward
- St James's
- Westminster Constituency
- Cities of London and Westminster
Further Information
Notice Documents
-
https://www.contractsfinder.service.gov.uk/Notice/e362a0ee-31d6-4171-9304-74ca8bfa00e4
31st October 2024 - Awarded contract notice on Contracts Finder
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.
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