Economic might of Muslim world

The key terms are ‘information society’, ‘knowledge based economy’ and ‘new growth theory’.

By Dr Farrukh Saleem

The 57-member Muslim-majority OIC held its third extraordinary session of the Islamic summit conference at Makkah Al Mukarramah. The world didn’t even take notice. The 22-member league of Arab states held its 28th Arab league summit in Khartoum. No one took notice. The six-member Arabian Gulf cooperation council held its twenty-sixth session in Abu Dhabi and the GCC supreme council made a ‘closing statement’. Did the world outside the GCC take notice? Has anyone even heard of the five-member Arab maghreb union?

Next. Does anyone know that there is the Islamic chamber of commerce and industry and that its HQ is in Karachi ? How many have heard of the organisation of Islamic capitals and cities, the sports federation of Islamic solidarity games, the Islamic shipowners’ association, the Islamic conference youth forum for dialogue and cooperation and the world federation of international Arab-Islamic schools?

Conclusion: One billion five hundred million Muslims, 23 per cent of humanity, have lost relevance to the productive world. Muslim political organisations don’t matter neither do our economic or social ones; as if we just don’t matter anymore.

Reason: Ninety-one per cent of world GDP is produced by non-Muslims (23 per cent of humanity produces less than nine per cent of the world GDP).

Continue reading on: The News


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