The Problems with Islamic Finance & The Case for Bitcoin with Harris Irfan
The Thinking Muslim
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The Slamic Bank
Islamic banks operate within the same regulatory and legislative system as conventional banks. They don't have any special pass there, and they are required to do so by the regulations. So they engage in money creation just like any other conventional bank. It doesn't really matter how cherie compliant the veneer is if the framework underneath it is still the traditional fractional reserve banking system. And therefore that must heran. There's something fundamentally not right about islamic banking,. or the islamic finance industry in a wider sense, operating on this same framework - we need to change that framework.
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