How BANKS Took Over the World | Tarek El-Diwany on Bitcoin, Fiat Currencies, Islamic Economics

Fiat Currencies, Gold, Bitcoin and Islamic Finance discussed with Author, Economics Expert & Financial Consultant, Tarek El-Diwany. (Full Interview).

0:00 – Preview
0:36 – Introduction
2:42 – Origin of Modern Banking & Fiat Currencies
15:25 – Boom/Bust Cycles, Central Banks, Fraud in Banking
24:18 – Banking Creates Inequalities, Interest vs. Profit Sharing
32:50 – Monopolisation, Why Architecture Sucks, Zombie Employees
43:38 – Why Justifications for Interest Fail, Real Nature of Money
55:10 – Islamic Economics 101, Zakat, Gambling
1:07:50 – Why Islamic Banking Isn’t Islamic
1:13:10 – MMT & What the Left Get Wrong
1:19:37 – What Libertarians & the Right Get Wrong
1:25:52 – Cryptocurrency/Bitcoin vs. Gold — Which is Better?

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“O my people, give full measure and full weight with equity, and defraud not people of their things and commit not iniquity in the earth, causing disorder.” – Holy Quran, 11:86

Tarek El-Diwany

Tarek El-Diwany graduated in Accounting and Finance from the University of Lancaster in 1985. In 1989 he was invited to establish a bond derivatives dealing desk at Fulton Prebonn in London where he was responsible for pricing, dealing and marketing of bond derivatives for European markets. Tarek established the firm’s Islamic finance department and marketing of bond derivatives for European markets. Tarek established the firm’s Islamic finance department in 1995, advising on the structuring of Islamic financing for clients in the Middle East, Europe and South-east Asia.

Since 1998 he has worked as a consultant and researcher in the field of Islamic finance for a variety of professional and private clients across the world. He is now the Senior Director of Kreatoc Zest, an Islamic Finance and investment consultancy based in London. Tarek is the founder of, a database of researchers, institutions, books and events dedicated to the field, and presenter to the film documentary “Why Are We All in Debt?” In 2010, he completed a reference textbook with First Ethical Charitable Trust entitled “Islamic Banking and Finance: What It Is and What It Could Be” as contributing editor.

Zakat is the Opposite of Interest – Ahmad Danyal Arif:

Our topic-index:

#finance #economy #bitcoin #gold #islam


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