“The bulk of the money supply is created by the banks. It’s not created by the federal government. When someone goes to a bank and says, for example, ‘I want to borrow 1 million dollars,’ the bank doesn’t say, ‘Okay, let me go to my vault and see if I have 1 million dollars,’ they don’t do that. They say, ‘What’s your name & account number? Okay, I’ll write in 1 million dollars,’ that’s it. Now there’s 1 million dollars in the money supply, that’s how money is created.

The American dollar has nothing behind it, the bulk of it, as I said, has been created by the banks just by an accounting entry. Interestingly, those loans that they make they of course charge interest for. That means the American dollar is a debt ribawi-based system and yet mostly everybody uses the dollar including our Ulema (Islamic scholars), our governments all use the dollar even though that’s where the dollar comes from.”

The U.S. Dollar is the primary fiat currency globally, with other national currencies from around the world subordinate and tied to it.

USD , EUR , GBP , CAD , AED , AUD , TRY , PKR , SAR etc….

Are all ribawi currencies.