Former CEO of Bank Muamalat, Dato’ Abdul Manap Abd Wahab exposes the deception and trickery of Islamic banking as observed first hand throughout his 20 years of experience in the banking industry.
Dato’ Abdul Manap points out that usurious practices common in conventional banks are equally evident in so-called Islamic banks. Allah tells us in the Quran, he quotes, that trade is permitted while riba prohibited. On this basis, Islamic banks have adopted terminologies of Islamic trading although in practice it is merely a false illusion of trading under which usury is rampant.
He concludes that Islamic banking is not possible as it inevitably involves money creation. The solution to Islamic finance can only exist via trading without recourse to national banks and its institutions.
