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May 30, 2008


roongnapa Tangsongsirisak

please correct the article "Malausia, Turkey &Saudi driving Increased Intra-OIC Trade" by Rafi-Uddin & Maris Zain on May-June 2008 Issue 26

Malaysia export from OIC 19.2% and 11.9% from the rest of the world not import and also Malaysia import 16.2% from OIC and Import 10.5% from the rest of the world not export.

the world of export and import should be swithched .

thank you.



Thank you Roongnapa for pointing out the error. We have corrected this on the actual article. It was infact the charts that were incorrect.



Yousuf Marvi

Dear Editors:
I am a student at Connecticut College, New London, CT, U.S.A, pursuing research under Professor Hossein G. Askari (George Washington University) and Br. kashef Majid (PHD candidate University of British Columbia). We are trying to do a study on FDI inflows and outflows between Islamic countries. During my research on the topic, I came across your article on intra-OIC trade and got very excite for two reasons. First, we couldn't find much research done on this subject; second, your article provides us a beacon of hope to acquire intra-OIC or inter-country data on FDI inflows and outflows.

I understand that you site the Loco Monitor for reference which is published by the oco monitoring; however, I am havign trouble accessing the data. I contacted OCO global and they told me that it would cost $3,000 for a report. Since this a purely academic research, we have a limited budget.

I was wondering if you could guide me in respect to acquiring the appropriate data that would further our reserach and shorten, otherwise, a lengthy and time consuming process of data compilation.


Yousuf Marvi
Connecticut College
B.A. Economics and International Relations


Dear Yousuf; salam aleykum.

Sometimes some public/university libraries have access to such proprietary databases.

Also below are some additional sources that maybe helpful:

IMF Direction of Trade Statistics

UNCTAD/WTO Trade Statistics

The International Trade Centre has developed five web portals: Trade Map, Market Access Map, Investment Map, Trade Competitiveness Map and Product Map (This I believe is proprietary but maybe more affordable)

United Nations Service Trade Statistics Database

Also certain country specific spurces are:
Saudi Arabia - http://www.mep.gov.sa/
Indonesia - http://www.bps.go.id/sector/ftrade/index.html
Malay - http://www.matrade.gov.my/foreignbuyer/Msiatradestats.htm

Hope this helps.


A myriad number of transactions within Islamic Finance, telecom, real-estate, energy and many other sectors have been initiated between companies in the GCC, Malaysia, Pakistan, UAE, Saudi Arabia, Turkey, Egypt and in other OIC (Organization of Islamic Conference) member countries.Just this month, Abu Dhabi Commercial Bank bought a 25% stake in Malaysia's fourth largest lender, RHB Capital, with the goal to tap the fast-growing Islamic banking market in Southeast Asia and the Middle-East.In the same week, Malaysia's top lender, Malayan Banking bought a 15 percent stake in Pakistan's largest listed lender MCB Bank for $680 million - the largest-ever foreign banking acquisition in Pakistan, according to Thomson Reuters.
Link Building

Ali M. Shervani

I think trade in terms of goods and services is rising between India and OIC nations and we will see significant rise also in this direction in future.
I feel India is a big territory for Islamic Finance products, recently Benchmark Mutual Funds have launched India's first exchange trade fund named Shariah BeEs bechmarked against S&P CNX Shariah Nifty.
I feel with the rise in trade in terms of services and gods will help OIC and India.

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