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This book provides a timely reminder of the problems created by the indebtedness of
individuals, corporate entities and countries. It traces the history of the “debt for profit
industry” to provide a substantive context for the ensuing discussion, which includes
the cyclical economic crises that occur regionally and globally. The analysis goes into some
detail regarding the recent crises in SE Asia, Argentina, Africa and many other countries,
clearly linking the occurrences with the increasing mountains of debt being incurred.
The book also considers the impact of hyper-competition on the growth of debt as well as
looking at the role that Islamic Banking could or should be playing as a viable alternative.
This well-written and well-researched book opens the door to both reflection and further
rigorous research in order to establish viable alternatives to the current debt-based global
banking system, which appears to be spiralling out of control. The genie is already out of the
bottle; what we can do, however, is to understand better what is happening and to use our
knowledge and appreciation of the situation to create an environment of understanding that
will help contain and mitigate the terrible consequences of excessive debt. Till Debt Do Us Part
helps to guide us along the right path.

Daud Vicary Abdullah
MD of DVA Consulting Sdn. Bhd. and former President and CEO of INCEIF –
The Global University of Islamic Finance



Imam Malik said “No other verse in the Quran makes me more scared of the wrath of God
than the verse 279 in Surah al-Baqarah wherein God declares war on the practitioners
of Riba, or Usury”. Unknown to many, the consequences of the Riba industry around us
today are more destructive and affect more people than natural disasters. Only now do we
realize the significance of that verse. As our understanding of the workings of the banking
industry becomes clearer, we discover that the main cause of the many financial crises and
even the increase in prices of goods can be traced to the Riba industry. The common belief of
the general public and even bankers that banks lend depositors money is actually far from
reality. Rather than banks receiving deposits when households save and then lending them
out (or financing in the case of Islamic Banks), it is the banks’ lending/financing that creates
deposits, meaning banks “create” money from thin air and lend from nothing. This has been
confirmed by The Bank of England in their Quarterly Bulletin of 2014 and it can be verified
by looking at the bank’s accounting entries when a loan or financing is given. As a result,
the amount of debt in the world is increasing at a phenomenal pace, causing tremendous
suffering to hundreds of millions around the globe, especially among the weak and the
poor. This is what most people, including bankers themselves, are unaware of. This book
contributes to the understanding of the destructive nature of the banking industry (including
the so-called ‘Islamic banking’) and makes the issues clearer to its readers. Humanity has no
alternative now but to find other methods of financing real trading and commercial activities.

Dato’ Manap Wahab,
Ex-CEO, Bank Muamalat.

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