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  #3, Howard, any Islamic finance expert could put together a scheme to finance Muslim students; I had several years in Saudi Arabia doing other types of Islamic finance and it really isn't rocket science. The main points about Islamic finance are simple:
  
  -the loan must be for an acceptable purpose. Education is highly prized and is therefore considered worthy so no problem there.
  -the lender must share the return and the risk with the borrower.
  -no rate of interest can be charged although indexation of the amount owing is acceptable in most cases.
  -the funds must come from a source which is religiously acceptable.
  
  Islamic banks in the Muslim world already have finance products for education purposes.

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