Intra-OIC Trade Up, Abdul Latif Jameel & CSR, The 99 Comic, Harvard Islamic Finance, Borusan Six Sigma...

May/ June Edition: In this edition we present an update of the 2005 Research Brief titled "Is Intra-OIC Trade on the Rise?" (OIC = Organization of Islamic Conference.)  With many of the Muslim world economies growing in global prominence, one question often asked is how much of the trade is being done between these economies. 

Our latest research brief looks at the current Intra-OIC trade trends by evaluating the four leading Muslim majority country economies of Malaysia, Turkey, Saudi Arabia and Indonesia and their trade with the rest of the 57 OIC member countries compared to the rest of the world.  Even as the Islamic Development Bank Annual Report (2006-07) revealed that OIC member countries’ overall share of trade with other OIC member countries was a mere 14%, our Brief certainly shows a strong rise in Intra-OIC trade between the years 2003-07.

One story we are proud to have finally covered is the exemplary corporate social services program of the Saudi Arabia based conglomerate Abdul Latif Jameel Group.  We have also included a photo journal showcasing ALJ's impressive array of community programs.   

For our Muslim Lifestyle Market section we have an inspiring entrepreneurship story of Kuwait based Dr. Naif Al-Mutawa's The 99 comic series gaining regional prominence including licensing deals such as a newly announced 99 Village theme park being initiated in the GCC.

Finally, guest contributor Dr Athar Osama provides an outsiders perspective on the recent Harvard Islamic Finance Forum while Ms. Nawal Ouzren, herself a former six-sigma black belt for General Electric (GE), looks at a large successful six-sigma implementation in Turkey (at a major conglomerate Borusan Holding.)

I look forward to your comments on this update.  Also, we would like your recommendations on innovative and inspiring products, companies and business leaders from the Muslim world for us to consider profiling.

    

Comments

[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.

Roongnapa

[Rafi-uddin]

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

Regards,

Rafi-uddin

[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.

Sincerely

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

[Rafi-uddin]

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
http://www.imfstatistics.org/dot/

UNCTAD/WTO Trade Statistics
http://www.intracen.org/countries/

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
http://unstats.un.org/unsd/servicetrade/default.aspx

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.

[francis]

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.
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francis
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.