A Socio-Economic Profile of Muslim Countries
Oxford Handbook of Islam and Economy, Forthcoming
Posted: 3 Feb 2014
Date Written: 2013
This chapter presents a socio-economic profile of Muslim countries at the beginning of the second decade of the 21st century. In broad terms, the 57 majority-Muslim countries have a combined population of 1.4 billion Muslims, which is 23 per cent of the world population. An additional 200-300 million Muslims live as minorities in other nations. The average human development index value computed by the World Bank is 15 percent higher for the world while the index score for the Muslim countries is 59. In fact, the slightly lower human development score is good news on how far the Muslim countries have progressed based on the perception of their situation some 60 years ago as depicted in the then contemporary historical accounts the countries were noted for their lack of modernization and poor governance. During the last 60 years almost all of these nations gained freedom from colonial powers and the extent of the progress made since then is examined in this study.
Keywords: Islamic Finance, Economy, Islamic Economies, Muslim Countries, Socio-Economic Analysis
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